( At 5:20 p.m. EDT) I didn't think it was going to make it, but the Dow Jones Industrial Average managed to close above 8000 for the first time in nearly two months Friday. The index rose 39.51 points, or 0.5%, to 8017.59 as 21 of its 30 components climbed. IBM ( IBM) and JPMorgan Chase ( JPM) were the main contributors to the increase, accounting for about 20 points of the total. Not only was that the fourth straight session with an advance, it was also the fourth straight winning week for the industrials. During that time, the Dow has tacked on 21%. For the week just ended, it was up 241.41 points, or 3.1%. The year-to-date loss has been narrowed to 8.7%. On a percentage basis, Bank of America ( BAC) was the best performer, rising nearly 5% to $7.60. Microsoft ( MSFT) had the steepest decline, falling 2.8% to $18.75. All told, a good week. Enough of that for now though. Time to worry about the Final Four. Go Tar Heels.
Let's Call It a Week
( At 1:50 p.m. EDT) Is anybody awake out there? Still not much going on in terms of the Dow's movement. Maybe that's for the best. Only about two hours separate the index from another winning week, so if we stay here, fine with me. How can anyone really be thinking about stocks at 2 p.m. EDT on a Friday? Seriously. Maybe it's exhaustion. This has been a busy week, packed with data, a G-20 meeting, a showing by FASB, a handful of earnings, worries about the future of GM ( GM) and more chatter about IBM ( IBM) for Sun ( JAVA). Or maybe it's just me. At any rate, the industrials haven't strayed far from the flat line Friday, though they did briefly go positive before pulling back to trade lower by 31 points at 7947. The range has been right at 100 points, most of that on the downside.