Investors sent U.S. stocks barreling to their highest levels of the year Thursday, buoyed by slivers of encouraging news about jobs and housing. At least for a day, they overlooked the lack of clarity about Greece's marathon negotiation for a bailout.
It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession.
A drop in the unemployment rate to its lowest in three years propelled the Dow Jones industrial average Friday to its highest close since before the 2008 financial crisis. The Nasdaq composite index hit an 11-year high.
The stock market appeared headed Tuesday for its best January finish in more than a decade. An unexpected drop in consumer confidence dragged stocks down on the final day.
Stocks are closing higher after markets rallied in Europe and corporate bellwether Alcoa predicted strong global demand in 2012. The S&P 500 had its highest close since July.
Stocks wandered between small gains and losses Monday as traders looked ahead to Alcoa Inc.'s fourth-quarter results, the unofficial start of corporate earnings season.