The stock market closed the week near its highs as Wall Street ignored distractions from D.C. The Nasdaq Composite hit a new record, up 1%, while the S&P 500 rose 0.8% close to its July 28 high. The Dow Jones Industrial Average climbed 0.5% but has yet to surpass its Dec. 4 record.

Wall Street shifted to a more relaxed “Summer Friday” vibe after a hectic week prior. The CBOE Volatility Index (VIX) dropped below 16, indicating market calm. The fear gauge was on track for its biggest point drop since April, reflecting investor confidence.

Read more at Barron’s.: S&P 500 Finishes Week Near Highs as Nasdaq Notches Record Close. Wall Street Tuned Out Noise From Washington.