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Dow climbs 172 in a Black Friday rally

2 years ago November 23, 2012 Nov 23, 2012 Friday, November 23 2012 Friday, November 23, 2012 2:57:23 PM EST in News
Source: Associated Press

NEW YORK - Stocks rallied in an abbreviated session on Wall Street.

The Dow Jones industrial average shot up 172 points to 13,009. That's the first close above 13,000 for the Dow since Election Day.

The Standard & Poor's 500 index rose 18 points to 1,409. The S&P also racked up its biggest weekly point gain of the year. The Nasdaq composite index climbed 40 to 2,966.

Traders were encouraged by economic signals out of Germany and China. It's also the first day of the traditional holiday shopping season.

Trading on Wall Street was thin, about 1.4 billion shares, in a holiday-shortened session. Advancing stocks beat decliners 5-to-1.

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