February 14, 2014 -- 4:15 p.m. ET - 02/14/14
Stocks finished the week on a positive note. The Dow gained 126 points to 16154. The S&P 500 Index increased 8 points to 1838. The NASDAQ rose for the seventh consecutivesession as it added 3 points to 4244. A stronger than anticipated reading on consumer sentiment overshadowed the biggest drop in factory production since May 2009. A rally in the energy sector also helpedstocks advance. Occidental Petroleum increased both its quarterly dividend and stock buyback program which pushed its shares up 3.6% to $95.60. Meanwhile, index-heavyweight Exxon Mobil rose 2.8% to $934.01. Encouraging earnings results provided an additional boost. Campbell Soup led consumer stocks higher with a 4.9% gain to $42.98 after the company posted sales and earningsabove expectations. Meanwhile, the materials sector staged a rally. Cliffs Natural Resources jumped 5.8% to $23.16 after easily topping profit estimates thanks to lower costs and higher iron ore prices. Telecommunication stocks lagged behind. Verizon fell 1.7%to $46.49. AT&T lost 1.1% to $33.11. Overall, the major averages climbed higher for a second week. The NASDAQ led the way with a weekly advance of 2.9%. Both the Dow and S&P 500 finished with gains of 2.3% on the week. NYSE Composite volume totaled more than 3 billion shares. On the NYSE, advancers beat decliners by 2-1 on issues and on volume. The NASDAQ was 10-9 positive on issuesand 10-7 positive on volume. Treasury prices declined with the 10-year note losing 2/32 to yield 2.74%.