Stocks scored their fourth straight week of gains, powering the Dow Jones Industrial Average past the 13,000 mark for the first time.
The main engine behind the rally: better-than-expected corporate earnings.
The Dow climbed 1.2% for the week and is up 6.2% so far for April, its best month since December 2003. The Nasdaq also rose 1.2% for the week and is up 5.6% for April, its best month since July 2005. The S&P 500 was up 0.7% for the week and is 5.2% higher for April, its best month since October 2003.
The week began on a negative note as cautious comments from GM and Pfizer snapped the Dow's seven-day winning streak on Monday.
The Dow moved closer to 13,000 on Tuesday after IBM announced a $15 billion stock buyback plan and investors shrugged off disappointing data from the housing industry.
Finally, on Wednesday, the Dow ripped through the 13,000 level with a 135-point gain. The market itself rallied across the board on strong earnings reports and positive news from aluminum giant Alcoa .
The Dow inched up to another record on Thursday, even though the market closed mixed, as earnings continued to exceed expectations.
On Friday, the market recovered from an early selloff triggered by weak economic data and finished the week higher. The Dow again set a record.
