U.S. stocks finished the first trading week of the year on a high note, with the major indexes all turning higher late in Friday's session. A disappointing employment report had weighed on stocks throughout the Friday.
The Dow Jones Industrial Average rose to 10,618.19, giving it a weekly rise of 1.8 percent, while the S&P 500 climbed to 1,144.98, up 2.7 percent for the week. The small cap index, Russell 2000 advanced to 644.69, progress 1.46 percent for the week, and the tech-focused Nasdaq Composite Index climbed to 2,317.17, a level that has it 2.1 percent ahead for the week.
This first week result failed to support the widely known January effect anomaly. While the large cap stock index, S&P 5000, was up 2.7 percent; the small cap index, Russell 2000 advanced only 1.46 percent.
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