Dow Jones Turns Positive for 2009
NEW YORK (Dow Jones)--U.S. stocks rose late in the session and the Dow Jones Industrial Average finished in positive territory for 2009 for the first time since January.
The technology-heavy Nasdaq pared its gains for the week, however.
Overall, the Dow rose 28.34 points, or 0.32%, to 8799.26 Friday, giving it a 0.26% gain for the year to date and its highest close since Jan. 6. The blue-chip measure gained 0.4% on the week - its 12th weekly advance in the last 14. The Dow has logged its biggest 14-week gain since 1975 in that span.
The broad Standard & Poor's 500 added 1.32, or 0.14%, to 946.21, its highest close since Nov. 5. The S&P 500 is up 40% from its 12-and-a-half year closing low on March 9. The technology-oriented Nasdaq Composite fell 3.57, or 0.19%, to 1858.8 Friday, but gained 0.5% on the week, bringing it 47% above its March 9 low.
In recent weeks, investors have bought energy, technology and industrial stocks as economists predict an imminent end to the recession. Friday, investors pared holdings in some of those stocks, but most finished in positive territory for the week. Aluminum maker Alcoa was the weakest stock on the Dow Friday, off 23 cents, or 1.9%, to 11.99, but it's the strongest in the last 30 days, up 27% for that span.
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