The Week on Wall Street

Stocks closed the week at multi-year highs and the Dow Jones Industrial Average ended the week within striking distance of the unprecedented level of 13,000.

The S&P 500 closed at a multi-year high, ending the week 2.8% shy of the record close of 1,527 made in March 2000, and the Dow's 2.2% weekly advance leaves it 40 points short of 13,000, just five months after breaking 12,000.

The Nasdaq rose to a six-year high, but lagged the other major averages, closing up just 1.4% for the week.

Heading into the thick of earnings season, the markets were encouraged on Monday by a glut of merger news.

Investors celebrated Tax Day with a broad-based rally as stocks were also boosted by Citigroup's strong earnings report. Just a week after the world's largest financial services company disappointed investors with its restructuring plan, Citigroup posted positive first-quarter earnings, sending stocks higher across the board on Monday, led by a 2.1% gain in the financials sector.

On Tuesday, the Dow Jones Industrial Average made an intraday move above the record close of but closed just 13 points shy. The blue chip index was boosted by strong quarterly reports from Coca-Cola and Johnson & Johnson, as corporate earnings continued to exceed consensus expectations.

Stocks ended mixed on Wednesday after two notable tech names disappointed investors. The S&P 500 ended just above the unchanged mark while the Nasdaq lagged, following weak results from Yahoo and IBM. The financial sector added to positive momentum after JP Morgan Chase closed at a new high on earnings news.

"We're in the middle of a sustained rally that is being driven by earnings, as investors' worst fears have proved to be somewhat overblown," said Frederic Dickson, chief market strategist at DA Davidson.

On Thursday, markets opened lower after China reported an 11% rise in GDP and a two-year high in inflation, triggering concerns its central bank may interest rates. Investors were quick to shrug off concerns and the Dow closed at another new high.

On Friday, the Dow powered closer to the 13,000 mark, rising more than 100 points on stronger-than-expected earnings news from several Dow components. Google rose after the company's strong earnings report released Thursday after the bell while Dow component Caterpillar shares surged Friday after it posted stronger-than-expected profits.

A look at Monday's earnings and market activity, with David Chalupnik, First American Funds head of equities; Jason Trennert, Strategas Research Partners chief investment strategist & managing partner; Ron Insana, CNBC sr. analyst and CNBC's Maria Bartiromo.

The market pushed to new highs on Tuesday. Dan Genter, RNC Genter Capital Management president, CEO & CIO; Rob Morgan, Janney Montgomery Scott investment strategist and CNBC's Maria Bartiromo discuss the day's market activity.

The Dow has a record close on Wednesday in spite of the fact that a majority of components traded lower. CNBC's Dylan Ratigan & Bob Pisani; Charles White, ThomasLloyd Global Asset Manangement chief strategist; Rob Lutts, Cabot Money Management founder & CIO and CNBC's Maria Bartiromo.

The Dow hit another high Thursday. Peter Dunay, Leeb Group chief investment strategist; Jim Swanson, MFS Investment Management chief investment strategist and CNBC's Maria Bartiromo discuss it.

The Dow jumped more than 100 points on additional favorable earnings reports. Steven Lord, The Trend Investment Group's chief investment strategist; Robert Pavlik, chief investment officer at Oaktree Asset Management; John O'Donoghue, head of trading at Cowen and Company; David Tice, president of the Prudent Bear Fund and CNBC's Maria Bartiromo talk markets.