Friday was all about jobs and the magical 14,000 level. For the first time in more than five years, the Dow Jones Industrial Average (DJI) finished above the mark it has been chasing in recent weeks. It got there with a push from a jobs report that may not have looked strong on the surface, but showed there was more job creation in the U.S. during the final two months of 2012 than originally thought. Friday also marked the fourth-straight week of increases for most of the major indices.
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Sparked by a mildly encouraging jobs report, the Dow Jones Industrial Average (DJI) surged to end the week strong, finishing at 14,009.79 after climbing 149 points, or about 1.1%. It was the first time since Oct. 12, 2007 that the Dow closed above 14,000. Almost the entire Dow gained on the day, with 28 companies advancing -- led by Bank of America (NYSE:BAC), up 3.5%. Only two companies fell, with a disappointing earnings report pulling drug maker Merck (NYSE:MRK) down 3.3%. The Dow finished the week up 0.8%.
The S&P 500 Index (SPX) also closed higher, rising 15 points, or 1%, to close at 1,513.17 -- and was up 0.7% on the week. The Nasdaq Composite (COMP) rose by 37 points (1.2%) to close at 3,179.10. For the week, COMP added 0.9%.
The CBOE Volatility Index (VIX) finished at 12.90, down a little more than a point, or 9.7%. The VIX broke its four-day streak of finishing north of 13. Friday's downturn pushed the VIX into negative territory for the week, as it fell 0.08%.
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