NEW YORK (MarketWatch)
U.S. stocks on Friday marked their best week yet for the year as investors took a hopeful view that Europe would move to combat its economic crisis, including an anticipated recapitalization of Spanish banks
"We're better off today than we were a year ago on all of this
A year ago the ECB [European Central Bank] was raising rates, and now they are cutting and thinking about doing more," said John Cannally, economist at LPL Financial
The Dow Jones Industrial rose 93.24 points, or 0.8%, to 12,554.20, giving it a weekly rise of 3.6%The S&P 500 Index climbed 10.66 points, or 0.8%, to 1,325.65, leaving it 3.7% higher for the week
The Nasdaq Composite advanced 27.40 points, or 1%, to 2,858.42, up 4% from the week-ago close
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