January 04, 2013- Stocks Move Higher on Modest Strength Looking to Break 52 Week Highs

Stocks moved mostly higher over the course of the trading day on Friday, although buying interest was somewhat subdued. The markets benefited from a positive reaction to the release of some relatively upbeat economic data. The major averages all finished the day in positive territory, although the Nasdaq closed only just above the unchanged line. While the Nasdaq inched up 1.09 points or less than a tenth of a percent to 3,101.66, the Dow rose 43.85 points or 0.3 percent to 13,435.21 and the S&P 500 climbed 7.10 points or 0.5 percent to 1,466.47. With the gain, the S&P 500 reached its best closing level since December of 2007. For the week, the major averages all posted substantial gains. The Dow surged up by 3.8 percent, while the Nasdaq and the S&P 500 jumped 4.8 percent and 4.1 percent, respectively. The moderate strength on Wall Street came following the release of a report from the Labor Department showing that U.S. employment increased in line with economist estimates in the month of December.