Stocks Rise, Notching Year’s Best Week

U.S. stocks posted broad gains Friday, as investors shrugged off mixed data to push the market to its biggest weekly rise of the year.

The Dow Jones Industrial Average climbed 126.80 points, or 0.8%, to 16154.39. For the week, the Dow advanced 360.31 points, or 2.3%, marking the best weekly performance since the week ended Dec. 20.

On Friday, the S&P 500 index rose 8.80 points, or 0.5%, to 1838.63 and the Nasdaq Composite Index advanced 3.35 points, or 0.1%, to 4244.03, the highest close since July 17, 2000.

After a swoon beginning in late January, stocks pushed higher over the past week despite a series of economic reports showing the U.S. economy started 2014 weaker than most had expected. While the economic data have shown softness in the jobs market, manufacturing and consumer spending, many investors have been shrugging off the data as at least somewhat depressed by bad weather.

Posted on February 19, 2014 at 7:36 am
MJ Steen | Category: Uncategorized | Tagged , , , , , , , , ,

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