Stocks close out best week of 2012
ASSOCIATED PRESS June 8, 2012 8:14AM
In an April 12, 2012 file photo traders Frederick Reimer, left, Gregory Rowe, center, and Robert Moran, second from right, work on the floor of the New York Stock Exchange. U.S. futures augured a lower open on Wall Street Friday June 8, 2012. Dow Jones industrial futures fell 0.7 percent to 12,316 and S&P 500 futures lost 0.8 percent at 1,299.60. (AP Photo/Richard Drew)
Updated: June 8, 2012 3:28PM
The stock market is wrapping up its best week of the year.
News that businesses are restocking their inventories faster than expected pushed stocks higher Friday, giving the Dow Jones industrial average its fourth straight day of gains.
The Dow rose 93 points to close at 12,554. All the big stock indexes have risen more than 3 percent this week, although they’re still below the peaks they reached in the spring.
The Standard & Poor’s 500 index rose almost 11 points to 1,326. The Nasdaq composite rose 27 points, almost 1 percent, to 2,858.
Two stocks rose for every one that fell. Of the 10 industry groups in the S&P 500, energy was the only one to decline. Energy stocks fell as the price of crude oil declined.