The S&P 500 just closed above a key level at 2,800 for the first time in 16 weeks

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U.S. stocks closed sharply higher Friday to kick off trading in March on a positive note. The Dow Jones Industrial Average DJIA, +0.43% climbed 110 points, or 0.

4%, to 26,026, but failing to mark its 10th consecutive weekly gain, which would have matched its longest streak of weekly wins since 1995. The S&P 500 index SPX, +0.69% advanced 0.7% to 2,804, marking its first close above the psychologically significant level since Nov. 8. That level has proved a key point of resistance over the past several trading sessions. Meanwhile, the Nasdaq Composite Index COMP, +0.83% climbed 0.8% to 7,595. All closing figures are on a preliminary basis.

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