NEW YORK (May 17, 2013)--Encouraging news about the U.S. economy extended the market's rally Friday as U.S. stock indexes rose for the fourth week in a row and remain at record levels.
A gauge of future economic activity rose more than analysts expected, as did a measure of consumer confidence.
The Dow Jones industrial average rose 121 points to close at 15,354 Friday, an increase of 0.8 percent.
The Standard & Poor's 500 climbed 15.65 points, or 1 percent, to 1,666.12.
The Nasdaq composite rose 33 points to close at 3,499, or 1 percent.
Defense contractor Northrop Grumman rose 4 percent after announcing a big stock buyback.
Two stocks rose for every one that fell on the New York Stock Exchange, where volume was lighter than usual at 3 billion shares.