Stocks closed at another 2011 high Thursday despite modest U.S. economic growth in the first quarter. The economy grew at a 1.8 annual rate between January and March. That's the weakest pace since last spring. Higher oil prices cut into consumer spending and bad weather slowed down construction projects.
Stocks rose modestly as investors bet that the economy would grow at a faster annual rate once gasoline prices stabilized.
The Dow Jones industrial average rose 72.35 points, or 0.6 percent, to 12,763.31
The Standard & Poor's 500 index rose 4.82, or 0.4 percent, to 1,360.48.
The Nasdaq composite rose 2.65, or 0.1 percent, to 2,872.53.
For the week:
The Dow is up 257.32, or 2.1 percent.
The S&P is up 23.10, or 1.7 percent.
The Nasdaq is up 52.37, or 1.9 percent.
For the year to date:
The Dow is up 1,185.80, or 10.2 percent.
The S&P is up 102.84, or 8.2 percent.
The Nasdaq is up 219.66, or 8.3 percent.