NEW YORK (AP) — Stocks are closing higher, capping the best week for the Dow Jones industrial average since July.
The government said Friday the economy grew at a 3.1 percent annual rate in the fourth quarter of 2010, slightly better than economists expected. Stronger earnings from software giant Oracle Corp. helped boost technology shares.
The Dow rose 50 points, or 0.4 percent, to 12,221. It gained 362 points for the week, its biggest climb since the week ending July 9.
The S&P 500 rose 4, or 0.3 percent, to 1,314. The Nasdaq rose 7 points, or 0.2 percent, to 2,743.
All three indexes gained more than 2 percent this week. Better economic reports and stronger earnings helped stocks recover to levels last seen before an earthquake hit Japan on March 11.
