Stocks Rise, Extending Best Start Since 1998

By: Assocaited Press
By: Assocaited Press

New York, NY (AP) - Wall Street is closing out its best first quarter since 1998.

The Dow Jones industrial average is ending the day up 66 points to close at 13,212. The Standard & Poor's 500 index rose five points to close at 1,408. The Nasdaq composite fell slightly -- down four points to 3,092.

The Dow finished the quarter with an 8 percent gain. The gain was 12 percent for the S&P 500 and almost 19 percent for the Nasdaq.

The buying on Friday was driven by news that consumer spending rose last month at the fastest pace in seven months.

Advancing stocks outnumbered decliners by about 3-to-2. And nine out of 10 industry groups in the S&P 500 rose. Technology stocks had a slight decline.

Volume was light, 3.6 billion shares.


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