Friday's Market: Nasdaq Adds 1.9%, Ending Middling Week on up Note

A midday rally propelled stocks to an up close Friday, ending a middling week on a positive note as Wall Street decided that the latest jobs and manufacturing data didn't derail expectations for an improving economy.

"The market got to a level where investors are comfortable putting money to work," said trader Rob Cohen at Credit Suisse First Boston, adding he did not think there was any other catalyst during the day.

The Dow Jones Industrial Average , ended up 78.47, or 0.72%, to 10,990.41 points -- below the 11,000 resistance level. It is now 17.1% above its two-year low of 9,389.48, reached on March 22. The blue-chip index was buoyed by chip bellwether Intel(INTC Quote), which closed up 6.4% to $28.74, Boeing (BA Quote), which added 3.4% to $65, and General Motors (GM Quote). GM, which rose 2.9% to $58.54, reported stronger-than-expected car and truck sales for May.

The tech-heavy Nasdaq Composite fared well most of the day, closing up 39 points, or 1.85%, to 2149.4 points. It's up 31.2% since its 32-month low of 1638.8 reached on April 4. The broader-market S&P 500 finished higher by 4.85 points, or 0.39%, to 1260.67. It is up 14.3% from its 31-month low 1103.25 on April 4. ...