Covering The Economy

Jan 18, 2013 6:58 PM

Wall Street Clocks Third Straight Week Of Gains

NEW YORK (AP) - Stocks are closing higher on Wall Street, closing out a third straight week of gains.

General Electric led the Dow Jones industrial average higher after reporting a strong quarter thanks to growth in emerging markets.

The Dow rose 53 points to end at 13,649 Friday.

The Standard & Poor's 500 index reached another five-year high, rising five points to close at 1,486.

The Nasdaq gave up a point to end at 3,134, dragged down by a loss at Intel.

Capital One Financial lost 8 percent after reporting revenue and earnings that fell short of analysts' estimates.

Rising stocks outnumbered falling ones two to one on the New York Stock Exchange. Volume was in line with the recent average at 3.7 billion shares.

(Copyright 2013 The Associated Press. All rights reserved.)

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