Wall Street advanced on Friday, with the S&P 500 on track for its fourth straight weekly advance as data helped support recent momentum.

"We'll see how the Fed communicates when they start to take their foot off the accelerator. The market could react to that when it finally comes, and at some point, they are going to have to do it - and they are going to have to announce it," said Cameron Hinds, regional chief investment officer of Wells Fargo Private Bank (WFC)