& Poor's 500 closed at its highest level in five years Friday after a report showed that hiring held up in December. The index began its descent from a record close of 1,565 in October 2007, as the early signs of the financial crisis began to emerge. The index bottomed out in March 2009 at 676 before staging a recovery that has seen it more than double in value and move to within 99 points of its all-time peak.
The Dow Jones industrial average rose 43.85, or 0.3 percent, to 13,435.21.
The Standard & Poor's 500 index rose 7.10, or 0.5 percent, to 1,466.47
The Nasdaq composite index rose 1.09, or 0.04 percent, to 3,101.66.
For the week:
The Dow is up 497.10, or 3.8 percent.
The S&P 500 is up 64.04, or 4.6 percent.
The Nasdaq is up 141.35, or 4.8 percent.
For the year:
The Dow is up 331.07, or 2.5 percent.
The S&P 500 is up 40.28, or 2.8 percent.
The Nasdaq is up 82.15, or 2.7 percent.