The rise in the Dow came as investors took note of a strong jobs growth, the decline in unemployment rate and other positive developments, while putting aside fears of economic turbulence and focusing again on fundamentals. Another rise of just 10 percent in the blue-chip index will boost it to reach its record close of 14163.53, that took place on Oct. 9, 2007.

 

Alongside the Dow, surging technology stocks pushed the Nasdaq Composite Index 1.61 percent to 2905.66, which was its highest close since December 2000. Strong gains were also posted by financial and industrial stocks on strong economic hopes that global growth would be strong enough to drive higher demand in all sectors. Utility stocks were, however, the weaklings in Fridays good showing. 

 

The surge in the Dow represents how much investors are coming out of the global fears that had engulfed them last summer. At that time, the Dow had plunged almost 20 percent. Stock gains are likely to continue in the background of a quiet U.S. economic recovery with slow growth and low inflation.