S&P Makes Biggest Weekly Gain Since July 2009
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Standard & Poor's 500 index had its biggest weekly gain of 2011 and biggest gain gain since July 2009.
After closing at 1,268.45 last Friday, the index rose 5.7 percent throughout the week to 1,340 today.
The Dow and Nasdaq also had strong weeks.
Stocks got a boost Friday from a stronger-than-expected manufacturing report. The ISM index rose to 55.3 in June, from 53.5 in May. Economists had been expecting a drop to 52 in the month. A reading above 50 points to expansion in the sector, and vice-versa for a reading below 50.
After closing at 1,268.45 last Friday, the index rose 5.7 percent throughout the week to 1,340 today.
The Dow and Nasdaq also had strong weeks.
Stocks got a boost Friday from a stronger-than-expected manufacturing report. The ISM index rose to 55.3 in June, from 53.5 in May. Economists had been expecting a drop to 52 in the month. A reading above 50 points to expansion in the sector, and vice-versa for a reading below 50.
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