NEW YORK - The stock market shifted back into rally mode Friday.
A 36-point advance in the Dow Jones Industrial Average left the index at a new high for the year and with a gain of 215 points for the week, its best weekly performance since July. Stock indexes have risen in nine of the past 11 days.
The market's climb came a day after a pullback that did little to quiet analysts' calls for a break in the market's run.
Marc Harris, co-head of global research for RBC Capital Markets in New York, said the strength of the rally has surprised many investors because some of the stocks posting the biggest advances are lower-quality companies with weak balance sheets that investors only months ago feared might go out of business.
"Even turkeys are going to fly in a hurricane," Harris said. "Those lower-quality companies are leading the charge here."
Many analysts expect the market's run will slow - but perhaps not stop - as investors shift their holdings from industries where the gains have been strong, like technology, to areas that have lagged.
The Dow rose 36.28, or 0.4 percent, to 9,820.20, its highest close since Oct. 6, when it finished at 9,956. The index is up 11.9 percent for the year.
The broader Standard & Poor's 500 index rose 2.81, or 0.3 percent, to 1,068.30, while the Nasdaq composite index advanced 6.11, or 0.3 percent, to 2,132.86.
The Dow's gain of 2.2 percent for the week was its best gain since the week ended July 24. The S&P 500 index and the Nasdaq advanced 2.5 percent.