Journalist: Dow's Rise Doesn't Reflect EconomyAfter a week of hectic trading and major gains, stocks were mixed Friday, but closed up. Roben Farzad, senior writer for BusinessWeek, says the spike is not a sign the economy is turning around.
Stocks closed up more than 50 points Friday, capping a week of gains on Wall Street.
The Dow Jones industrial average closed above the 7,000 level.
"It's ice-cold comfort when you talk about a stock market that even at the 7,000-level is at half its year 2007 high. ... But we'll take whatever we can get," says Roben Farzad, senior writer for BusinessWeek.