Stocks rose to five-year highs on Friday, with the Dow closing above 14,000 for the first time since October 2007, after jobs and manufacturing data showed the economy’s recovery remains on track.
Based on the latest available data, the Dow Jones industrial average DJIA was up 149.21 points, or 1.08 percent, at 14,009.79. The Standard & Poor’s 500 Index SPX was up 15.05 points, or 1.00 percent, at 1,513.16. The Nasdaq Composite Index IXIC was up 36.97 points, or 1.18 percent, at 3,179.10.
READ ON: Dow ends above 14,000 for the first time since October 2007
REUTERS TV FAST FORWARD: Matt Goldstein talks to FBI agents assigned to sniff out insider trading and asks if they’ve ever had to draw their weapon in the line of duty.
More than 400 anti-Wall Street protesters were arrested in Oakland during a night of skirmishes in which police fired tear gas and bean bag projectiles, the city said on Sunday, marking one of the biggest mass arrests since nationwide economic protests began last year.
Violence erupted again in Oakland on Saturday when protesters attempted to take over the apparently empty downtown convention center to establish a new headquarters and draw attention to the problem of homelessness. [REUTERS/Photo: Stephen Lam/Article: Emmett Berg]
Unexpected sequel of the day: Rudy Ruettiger, the Notre Dame football walk-on and inspiration for the Sean Astin movie “Rudy,” just had to settle with the Securities and Exchange Commission — getting fined $382,000 for turning his Gatorade challenger “Rudy” into a penny stock pump-and-dump scheme that drew $11 million in illicit profits, hundreds of thousands of which went to the feel-good icon. In the end, the hardworking runt sold more stocks than he did beverages. “Investors were lured into the scheme by Mr. Ruettiger’s well-known, feel-good story but found themselves in a situation that did not have a happy ending,” said the sound-bite-ready Scott W. Friestad of the SEC’s enforcement division. That feel-good story doesn’t feel so good anymore now, does it?