Stocks rose in quiet, pre-holiday trading Friday. The S&P 500 index turned positive for the year. Traders were relieved by news that Congress extended a payroll tax holiday for workers and emergency unemployment benefits. They remained optimistic about the U.S. economy after encouraging reports this week.
The Dow Jones industrial average rose 124.35 points, or 1 percent, to 12,294.
The Standard & Poor's 500 index gained 11.33, or 0.9 percent, to 1,265.33. It started the year at 1,257.
The Nasdaq composite index added 19.19, or 0.7 percent, to 2,618.64.
For the week:
The Dow rose 427.61 points, or 3.6 percent.
The S&P 500 rose 45.67, or 3.7 percent.
The Nasdaq rose 63.31, or 2.5 percent.
For the year to date:
The Dow is up 716.49 points, or 6.2 percent.
The S&P 500 is up 7.69, or 0.6 percent.
The Nasdaq is down 34.23, or 1.3 percent.