Stocks Strut Into February With Big Gain

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Close Associated Press

A screen on the trading floor of the New York Stock Exchange on Friday shows the Dow Jones industrial average above 14000 for the first time since October 2007.

Fresh off a blowout January, stocks started February with a bang, as telecom shares led a broad rally.

The telecom sector in the Standard & Poor's 500-stock index jumped 1.9%, its biggest gain since Jan. 2, as Verizon Communications climbed 95 cents, or 2.2%, to $44.56, and AT&T advanced 72 cents, or 2.1%, to 35.51.

Meanwhile, the Dow Jones Industrial Average advanced 149.21 points, or 1.1%, to 14009.79, topping 14000 for the first time since October 2007. The blue-chip index, which advanced 0.8% on the week, is 155 points from breaking its record close.