US STOCKS-Wall St hits records in broad, thinly traded rally
* Markets on track for positive week
* Trading volume likely to be light after holiday
* Biotech stocks rise, but still lower on week
* Indexes up: Dow 0.3 pct, S&P 0.4 pct, Nasdaq 0.6 pct (Updates to morning trading)
By Ryan Vlastelica
NEW YORK, Dec 26 (Reuters) - U.S. stocks rose on Friday, with major indexes hitting records and on track for a second straight weekly advance, though trading was light with many traders still out for the Christmas holiday.
The day's gain was broad, with all 10 S&P 500 industry sectors higher on the day. The advance continued Wall Street's recent upward bias, with the S&P up about 6 percent from a recent closing low hit earlier this month.
The S&P is on track for its 52nd record close of the year, the most since 1995 and the fourth-best annual record ever, while the Dow is on track for its seventh straight daily gain, its longest streak since March 2013.
"The overall trend remains higher, but we're reaching a point where we're overbought. Six percent since last Tuesday is such a strong move in such a short period of time, even if bulls have the upper hand in the longer term," said Adam Sarhan, chief executive of Sarhan Capital in New York. Continuación...