Investors grew more confident about the economy but also worried that a brighter employment picture will mean rising interest rates. Stocks closed higher Friday but only after giving up much of their early gains. Indexes touched new highs for year in the morning following news that job cuts fell sharply in November, but that report also brought expectations that the Federal Reserve could hike rates or remove other supports from the economy.
The Dow Jones industrial average rose 22.75, or 0.2 percent, to 10,388.90.
The Standard & Poor's 500 index rose 6.06, or 0.6 percent, to 1,105.98.
The Nasdaq composite index rose 21.21, or 1 percent, to 2,194.35.
For the week:
The Dow is up 78.98, or 0.8 percent.
The S&P is up 14.49, or 1.3 percent.
The Nasdaq is up 55.91, or 2.6 percent.
For the year:
The Dow is up 1,612.51, or 18.4 percent.
The S&P is up 202.73, or 22.4 percent.
The Nasdaq is up 617.32, or 39.1 percent.