Teaje Price, left to right, 22, and Kristi Marshall, 42, celebrate as they enter a Best Buy Friday, Nov. 23, 2012, in Mayfield Heights, Ohio. The store opened at 12 a.m. on Friday. They are buying a television and a blue ray player. (AP Photo/Tony Dejak)

Dow closes up 172 in a Black Friday rally

By DANIEL WAGNER

| The Associated Press

|

First Published Nov 23 2012 09:04 am • Last Updated Nov 26 2012 10:00 am

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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