Stocks finish strong; Dow touches 11,000

By Alexandra Twin, senior writer

NEW YORK( -- Stocks gained Friday, with the Dow briefly topping 11,000 and the broad market ending higher for the seventh of eight weeks, as economic optimism trumped concerns about Greek debt.

The Dow Jones industrial average (INDU) added 70 points, or 0.6%, closing at 10,997. The Dow got as high as 11,000 in the final 10 minutes of trading but ended the session just short of that. Still, it was the highest close for the Dow since Sept. 26, 2008, when it finished at 11,143.13.

What have you been buying recently?
  • Only necessities
  • A few small extras and gifts
  • Big-ticket items

The S&P 500 index (SPX) gained 8 points, or 0.7%, closing at an 18-month high. The Nasdaq composite (COMP) gained 17 points, or 0.7%, ending at the highest point since June of 2008.

Stocks drifted higher through the session as investors weighed competing influences at the end of a choppy week on Wall Street.

Stocks gained Thursday as upbeat sales reports from the nation's retailers helped provide optimism about the economic outlook, taking the edge off worries about Greece and other euro-zone debt issues.

Greece's borrowing costs eased a bit after hitting a record high Thursday on worries about its ballooning deficit. Talk of a bailout as soon as this weekend circulated Friday. On the downside, ratings agency Fitch cut its outlook on Greece's debt.

Worries that Greece's default could usher in a bigger European debt crisis have popped up repeatedly this year. But the concerns have been tempered in recent weeks as investors have focused on signs that the economic recovery is picking up strength, despite ongoing weakness in the labor and housing markets.

The Dow, Nasdaq and S&P 500 have all risen in seven of eight weeks.

Among stock movers Friday, strength in energy shares gave a lift to the broad market, but it was tempered by weakness in financials. Chevron (CVX, Fortune 500), Exxon Mobil (XOM, Fortune 500), Coca-Cola (KO, Fortune 500) and Walt Disney (DIS, Fortune 500) drove Dow gains. Microsoft (MSFT, Fortune 500), Yahoo (YHOO, Fortune 500) and Intel (INTC, Fortune 500) were among the Nasdaq's big movers.

Economy: Wholesale inventories rose 0.6% in February after climbing 0.1% in January, the Census Bureau reported Friday. Inventories were expected to rise 0.4% ,according to economists surveyed by

World markets: In overseas trading, European markets rallied in the afternoon, with London's FTSE up 1%, France's CAC-40 up 1.5% and Germany's DAX up 1.2%. Asian markets ended higher.

Bonds: Treasury prices rose, lowering the yield on the 10-year note to 3.89% from 3.90% late Thursday. The 10-year had risen as high as 4% Monday, an 18-month high. Treasury prices and yields move in opposite directions.

The dollar and commodities: The dollar fell versus the euro and the yen.

COMEX gold for June delivery rose $9 to settle at $1,161.90 per ounce.

U.S. light crude oil for May delivery settled down 47 cents to $84.92 a barrel on the New York Mercantile Exchange.

Market breadth was mixed. On the New York Stock Exchange, winners beat losers two to one on volume of 971 million shares. On the Nasdaq, advancers edged decliners by seven to six on volume of 2.12 billion shares. To top of page

Just the hot list include
Frontline troops push for solar energy
The U.S. Marines are testing renewable energy technologies like solar to reduce costs and casualties associated with fossil fuels. Play
25 Best Places to find rich singles
Looking for Mr. or Ms. Moneybags? Hunt down the perfect mate in these wealthy cities, which are brimming with unattached professionals. More
Fun festivals: Twins to mustard to pirates!
You'll see double in Twinsburg, Ohio, and Ketchup lovers should beware in Middleton, WI. Here's some of the best and strangest town festivals. Play
Overnight Avg Rate Latest Change Last Week
30 yr fixed3.80%3.88%
15 yr fixed3.20%3.23%
5/1 ARM3.84%3.88%
30 yr refi3.82%3.93%
15 yr refi3.20%3.23%
Rate data provided
View rates in your area
Find personalized rates:
Index Last Change % Change
Dow 32,627.97 -234.33 -0.71%
Nasdaq 13,215.24 99.07 0.76%
S&P 500 3,913.10 -2.36 -0.06%
Treasuries 1.73 0.00 0.12%
Data as of 6:29am ET
Company Price Change % Change
Ford Motor Co 8.29 0.05 0.61%
Advanced Micro Devic... 54.59 0.70 1.30%
Cisco Systems Inc 47.49 -2.44 -4.89%
General Electric Co 13.00 -0.16 -1.22%
Kraft Heinz Co 27.84 -2.20 -7.32%
Data as of 2:44pm ET


Bankrupt toy retailer tells bankruptcy court it is looking at possibly reviving the Toys 'R' Us and Babies 'R' Us brands. More

Land O'Lakes CEO Beth Ford charts her career path, from her first job to becoming the first openly gay CEO at a Fortune 500 company in an interview with CNN's Boss Files. More

Most stock quote data provided by BATS. Market indices are shown in real time, except for the DJIA, which is delayed by two minutes. All times are ET. Disclaimer. Morningstar: © 2018 Morningstar, Inc. All Rights Reserved. Factset: FactSet Research Systems Inc. 2018. All rights reserved. Chicago Mercantile Association: Certain market data is the property of Chicago Mercantile Exchange Inc. and its licensors. All rights reserved. Dow Jones: The Dow Jones branded indices are proprietary to and are calculated, distributed and marketed by DJI Opco, a subsidiary of S&P Dow Jones Indices LLC and have been licensed for use to S&P Opco, LLC and CNN. Standard & Poor's and S&P are registered trademarks of Standard & Poor's Financial Services LLC and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC. All content of the Dow Jones branded indices © S&P Dow Jones Indices LLC 2018 and/or its affiliates.