US STOCKS-Wall St ends at record in second straight weekly gain
* Markets up for 2nd straight week; Dow, S&P end at records
* Trading volume light in post-holiday session
* Biotech stocks rise, but still lower on week
* Indexes up: Dow 0.1 pct, S&P 0.3 pct, Nasdaq 0.7 pct (Updates to close)
By Ryan Vlastelica
NEW YORK, Dec 26 (Reuters) - U.S. stocks ended higher on Friday, with both the Dow and S&P 500 closing at records in a broad rally, though trading was light with many market participants still out for the Christmas holiday.
Major indexes closed out their second straight weekly gain, continuing an advance that has lifted the S&P 5.9 percent in seven sessions. The benchmark index hit its 52nd record close of the year on Friday, the most since 1995 and the fourth-best annual record ever, while the Dow rose for a seventh straight day, 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.
Recent gains have come on strong economic data, including a bullish read on economic growth earlier this week, as well as accommodative measures from central banks. Continuación...