Wall Street Ends Upbeat
04/13/07 - 04:51 PM EDT
Robert Holmes
Updated from 4:12 p.m. EDT
Stocks in the U.S. closed higher Friday as a late pop in Cisco (CSCO Quote - Cramer on CSCO - Stock Picks) helped the market run up after mixed economic data had threatened to stall it out. The Dow Jones Industrial Average rose 59.17 points, or 0.47%, at 12,612.13, and the S&P 500 tacked on 5.05 points, or 0.35%, at 1452.85. The Nasdaq Composite, which spent most of the session in the red, rose 11.62 points, or 0.47%, to 2491.94. While Wall Street hadn't moved much until the afternoon, buyers came in after a Cisco executive said sales were growing toward the high end of the networker's forecast. Shares of Cisco advanced 2.7%. Overall, stocks ended a volatile week with gains. The Dow added 0.4%, the S&P 500 was up 0.6%, and the Nasdaq climbed 0.8%. About 2.61 billion shares changed hands on the New York Stock Exchange, where advancers beat decliners by a 10-to-7 margin. Volume on the Nasdaq reached 1.89 billion shares, with winners outpacing losers 3 to 2. Before the open, the Labor Department's producer price index for March showed that inflationary pressures were contained. The headline index rose 1%, which was above projections, but the core index, excluding food and energy, was unchanged. The core rate advanced 1.7% year over year, down slightly from February and within the Federal Reserve's comfort range of 1% to 2%.
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