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Stocks close huge week with rally

The Dow rose 168 points Friday and 650 points for the week. It was the best week in more than two years.

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In the June 22, 2011 file photo, traders work on the floor of the New York Stock Exchange. World markets posted muted gains Friday, July 1, 2011, with Tokyo rising to an eight-week high, as investors took heart from debt-strapped Greece's approval of harsh austerity measures but remained wary following signs of slowing growth in China.

Richard Drew / AP

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NEW YORK (AP) — Stocks are closing their best week since the bull market began in March 2009.

An unexpected rebound in U.S. manufacturing surprised investors Friday, sending the Dow Jones industrial average up nearly 170 points. Indexes were also lifted by a bounce back in auto sales last month.

The Dow is closing up 168 points Friday, or 1.4 percent, to 12,583. The S&P 500 is up 19, or 1.4 percent, to 1,340. The Nasdaq composite is up 43, or 1.5 percent, to 2,816.

The Dow added nearly 650 points for the week. It gained 5.4 percent.

Five stocks rose for every one that fell on the New York Stock Exchange. Volume was slightly below average at 3.4 billion shares.

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