US stocks rise to 5-year high; Dow closes above 14,000
For the first time since October 2007, US stocks rose to five-year high on Friday.
New York: For the first time since October 2007, US stocks rose to five-year high on Friday, after jobs and manufacturing data showed signs of turnaround.
Dow closed above 14,000, first time in five years.
The S&P touched its highest since December 2007 after a 5 percent gain in January, which was its best start to a year since 1997. The index is now just about 60 points away from its all-time intraday high of 1,576.09.
Employment grew modestly in January, with 157,000 jobs added. That was slightly below expectations, but Labor Department revisions showed 127,000 more jobs were created in November and December than previously reported.
With Agency Inputs