Business

S&P 500 index logs its best week of the year

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Stocks closed out their best week of the year so far as investors focused on earnings and brushed off another weak economic report. Campbell Soup and Cliffs Natural Resources, a mining company, both rose on earnings that beat estimates. “For all practical purposes, we’re back,’’ said RBC Capital Markets’ Jonathan Golub. Friday’s session started lower following news that US factory output fell sharply in January. Manufacturers made fewer cars and trucks, appliances, furniture and carpeting, as the recent cold spell ended five straight months of increased production. US financial markets will be closed Monday for Presidents’ Day.

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