Markets have charted big gains this year. The Dow and S&P 500 are both up more than 20%, while the Nasdaq has soared over 30%.
The broad rally puts the Dow on track for its best year since 2003 and the S&P 500 on pace for its best year since 1997.
This year's gains have been driven by ongoing economic stimulus from the Federal Reserve, increased confidence in the economy, solid corporate earnings growth and more individual investors entering the stock market.
The Fed announced earlier this month that it will modestly reduce its bond buying program in January. But many experts believe the bull market, which began in early 2009, will continue for a sixth year in 2014, albeit at a more modest pace.
Meanwhile, the bond market continues to retreat. The yield on the 10-year Treasury note briefly traded at 3% on Thursday, matching the highest level of the year.
On the economic front, initial claims for unemployment benefits fell last week, according to government data released Thursday.
Shares of UPS(UPS) and FedEx(FDX) were little changed despite delays that caused both package delivery companies to miss holiday deadlines. Amazon(AMZN) offered a $20 gift card and also a refund of shipping charges for customers who did not receive their packages on time.
The problems with UPS come weeks after Amazon founder Jeff Bezos unveiled plans to use unmanned aerial vehicles -- or drones -- to deliver small packages in four to five years.