Dow Tops 14,000

The Dow Jones industrial average jumped more than 149 points, or 1.1%, to hit 14,009.8, its highest closing level since Oct. 12, 2007. The Dow is now less than 200 points from its all-time high of 14,198.10.

The S&P 500 rose 1% and is also at its highest level since 2007 -- about 4% away from its record high. The Nasdaq gained 1.2%.

Despite the day's big gains, stocks ended modestly higher for the week. The Dow gained 0.8%, the S&P 500 increased 0.6% and the Nasdaq climbed 0.9%.

Friday's strong advance followed reports on the job market, the manufacturing sector, construction spending and consumer sentiment, which all pointed to a healthy economic recovery.

Read more from CNN Money: http://money.cnn.com/2013/02/01/investing/stocks-markets/index.html?iid=mkt_SF_news