The Dow closed up +149.21 (+1.08%) above 14,000 at 14,009.79. Next stop Dow 15,000, right? Hey, that’s only a +7.07% ride higher from here.
Dow stock gainers today were all of them except MRK (-3.28%) and HPQ (-0.30%). Guess they were on a naughty list somewhere..
Dow gainers were led by BAC (+3.45%), UTX (+2.59%), VZ (+2.18%), T (+2.07%) and AXP (+1.87%).
For the week DJIA was up +0.8%, Nasdaq +0.9%, S&P 500 +0.7% and Russell 2000 +0.7%.
Year-to-date DJIA is up +6.9%, Nasdaq +5.3%, S&P 500 +6.1% and Russell 2000 +7.3%.
The price of the 10-year Treasury rose, pushing the yield to 1.96%, down from 1.98% late Thursday.
The Census Bureau said that construction spending rose 0.9% in December, which was well above expectations.
The Institute for Supply Management’s monthly manufacturing index rose to 53.1 in January, a sign that manufacturing sector is continuing to expand. Economists were expecting a reading of 50.5.
The University of Michigan’s sentiment index rose to 73.8 in January while economists were expecting a reading of 71.4.