Wall Street closes at multi-year highs, as European shares slip

The Dow and S&P 500 closed at five-year highs today as the market registered a third straight week gains on a solid start to the earnings season.

The Dow Jones industrial average was up 53.83 points, or 0.40 percent, at 13,649.85. The Standard & Poor's 500 Index was up 5.01 points, or 0.34 percent, at 1,485.95. The Nasdaq Composite Index was down 1.30 points, or 0.04 percent, at 3,134.71.

European shares slipped as disappointing economic data in the UK and US dampened sentiment, but technical support and on-going central bank stimulus measures kept indexes at multi-month highs.

The FTSEurofirst 300 index closed down 1.9 points at 1,163.64 points.

Japan's Nikkei share average surged 2.9 percent to complete 10 straight weeks of gains, its longest winning streak since 1987, as heightened expectations of central bank easing early next week put further downward pressure on the yen.

The Nikkei advanced 303.66 points today as it produced its biggest one-day percentage gain in 22 months.