Dow finishes a record week

cnnMoney.com ^ | April 20, 2007 | Alexandra Twin, Steve Hargreaves

[Signalman]

NEW YORK (CNNMoney.com) -- The Dow industrials rallied to a record close Friday afternoon, finishing at a new high for the third consecutive day, after a slew of upbeat earnings reports that also drove the broader market higher.

The Dow Jones industrial average (up 136.85 to 12,945.48, Charts) jumped 153.35, or 1.2 percent, to 12,961.98, setting intraday and closing highs, according to early tallies. The Dow finished the week up about 2.8 percent higher.

The broader S&P 500 (up 11.88 to 1,482.61, Charts) index also added about 1 percent and hit a fresh 6-1/2-year high. The Nasdaq (Charts) composite gained roughly 0.8 percent and hit a fresh 6-year high. The S&P gained about 2.2 percent for the week, and the Nasdaq rose about 1.4 percent.

Oil jumped nearly $2, the dollar gained on the euro and yen, and bonds held steady.

Here's what moved the markets Friday: Buyouts help drive market rally

The Dow closed at a record Thursday despite a mixed broader market. But the tone was much more positive Friday, as all three major gauges spiked after solid earnings from Google, American Express, Caterpillar and others.

Beyond the earnings, the advance marked a broader recovery for Wall Street from the big late February selloff, when slumping Shanghai markets triggered a global stock decline on worries about growth. On that day, the Dow slumped 416 points - its biggest one-day loss since the day the markets reopened after the Sept. 11 attacks.

[LibLieSlayer]

“As for Michigan, the communist governor Granholm is in the water, along with 57% of the useful idiots who voted her back into the governor’s chair after posting the highest unemployment numbers in the nation.

Expect no details in the 6:30 news...or the 10 o’clock news.”

Sounds like a familiar song and dance. Thanks sarge!

LLS

[Phantom Lord]

Bush is worse than Hitler!