Stocks Up, S&p 500 | featured news

A big gain in the job market is lifting the stock market to new milestones. The Dow Jones industrial average crossed 15,000 for the first time early Friday, and the Standard and Poor's 500 index, a broader market measure, broke through 1,600 for the first time.

The Federal Reserve says it may start dialing back asset purchases this summer, but Wall Street doesn't seem worried Wednesday with stocks flying Wednesday and driving the major averages to fresh nominal highs.

The Dow and S&P 500 gained to finish at five-year highs in choppy trading Tuesday, ahead of President Barack Obama's State of the Union address later this evening.

U.S. stocks rose on Wednesday after an encouraging start to earnings season helped equities rebound from five days of losses that pushed the S&P 500 and the Nasdaq below key technical levels.

Top investors stumble, but a strong fourth quarter pushes blue chips into the black. Meanwhile, the S&P 500 ends the year almost exactly where it started.

Stocks are edging higher following a four-week losing streak. The Dow Jones industrial average is up 23 points, or 0.2 percent, to 10,844 in midday trading Monday. It had been up as many as 203 points. The Dow fell 4 percent last week as worries deepened that the U.S. could slip into a recession. The S&P 500 rose less than a point to 1,124. The Nasdaq was up less than a point at 2,342.