The S&P 500 turned positive for the year and closed out its third week of gains in four on Friday as equities extended their rally after a string of unexpectedly strong economic data.
The benchmark index has gained nearly 5 percent over its run of four straight winning days, putting it slightly higher for the year while volume continued to be seasonally light.
Investors cited recent improvement in U.S. economic data and seasonal factors behind the move, while a deal to extend the payroll-tax cut for two months added to the enthusiasm.
New U.S. single-family home sales rose to a seven-month high in November and the supply of houses on the market was the lowest in 5-1/2 years, giving hope for a recovery in the sector.
Dow Jones Industrial Average
(DJI: ^DJI )| Index Value: | 12,294.00 |
|---|---|
| Trade Time: | 4:06PM EST |
| Change: |  124.35 (1.02%) |
| Prev Close: | 12,169.65 |
|---|---|
| Open: | 12,169.80 |
| Day's Range: | 12,169.80 - 12,297.44 |
| 52wk Range: | 10,362.30 - 12,928.50 |
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