NEW YORK — The stock market rang up its sixth straight gain Friday, extending its early-1987 rally to new heights despite periodic bouts of profit taking.
The Dow Jones average of 30 industrials rose 3.66 to 2,005.91, closing out the week with a gain of 78.60 points.
That marked the best weekly showing by the average since it soared 92.91 points in mid-March of 1986.
Volume on the New York Stock Exchange came to 193.03 million shares, against 194.52 million Thursday.
Analysts said it was no surprise to see some traders cashing in their gains early in the session after a 106.30-point run-up in the Dow Jones industrial average over the first five sessions of 1987.
They also said a few investing institutions may have set the 2,000 level as a target for profit taking.
In the bond market, the Treasury Department's key 30-year bond advanced more than $6 per $1,000 in face amount, and its yield fell to 7.28% from 7.32% on Thursday. Corporate and municipal issues also rose.