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Stocks Log 10-Week High; Dow, Nasdaq Up for 2011
CNBC.com | October 14, 2011 | 04:47 PM EDT

Stocks rallied in the final hour of trading to close at their highest levels Friday, with all three major indexes logging a 10-week high, amid optimism the euro zone would find a solution to its debt crisis.

The Dow Jones Industrial Average rallied 166.36 points, or 1.45 percent, to finish at 11,644.49, finishing firmly in positive territory for the year.

The S&P 500 jumped 20.92 points, or 1.74 percent, to close at 1,224.58, its best week since Jul. 2009. The Nasdaq jumped 47.61 points, or 1.82 percent, to end at 2,667.85, also higher for 2011.

The CBOE Volatility Index, widely considered the best gauge of fear in the market, finished below 29, closing lower for the ninth session.

For the week, the Dow surged 4.88 percent, the S&P climbed 5.98 percent and the Nasdaq surged 7.60 percent. All 30 Dow components finished higher for the week, led by Caterpillar and Disney .

All 10 S&P sectors finished in the black for the week, led by energy. The least positive sector was utilities.

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