Stock market ends with biggest weekly gain in a year
The stock market ended its best week in a year with another gain Friday as investors placed their final bets before the start of second-quarter earnings reports.
The Dow Jones industrial average rose 59.04 points, or 0.6 percent, to finish at 10,198.03.
That gave the Dow its biggest weekly advance in a year, 5.3 percent. Broader indexes also posted bigger gains. The Standard & Poor's 500 index rose 7.71, or 0.7 percent, to 1,077.96, while the technology-focused Nasdaq composite index rose 21.05, or 1 percent, to 2,196.45.
Trading volume was light, but traders appeared optimistic about company reports that will be announced starting next week. Stocks also got a lift from news that China renewed Google's license to operate in the country. Google rose 10.93 points, or 2.4 percent, to $467.49.
News on the economy wasn't as upbeat. Inventories held by wholesalers rose in May for a fifth straight month though sales dropped for the first time in more than a year. It was the first drop since March 2009, when major stock indexes hit a 12-year low. - AP
Newsday Investigates: Girl was absent, late in half the school days in months before death ... University says hazing victim responsible for own injuries ... Crossing the Island in one day on public transportation ... Let's Go: Catskill Mountain Railroad
Newsday Investigates: Girl was absent, late in half the school days in months before death ... University says hazing victim responsible for own injuries ... Crossing the Island in one day on public transportation ... Let's Go: Catskill Mountain Railroad
