The Dow Jones Industrial Average (DJIA 14,066.01) cruised back above the 14,000 level in today's trading, after earlier hitting an intraday high of 14,124.54. Today's better-than-expected September payrolls report along with upward revisions to the payroll figures for August and July assuaged investor fears of an economic slowdown in the U.S., despite the fact that the unemployment rate is sitting at an annual high.

Today marks the Dow's third close above the 14,000 mark this week, and the blue chip index finished this Friday with a week-over-week gain of 1.2%. Twenty-five of the Dow's 30 components advanced, with Caterpillar (CAT) leading the charge higher. Boeing (BA) led the laggards, and Procter & Gamble (PG) finished the session flat. After completing a bearish crossover toward the end of August, the Dow's 10-week and 20-week moving averages are now pointed higher, and seem poised for a bullish cross should the Dow's rally continue.

Not to be outdone, the S&P 500 Index (SPX 1,557.59) sailed to an all-time high of 1,561.91 in intraday trading before settling on a gain of nearly 15 points. The SPX closed the week on a gain of more than 2% from its close last Friday. Much like the Dow, the SPX's 10-week moving average is turning higher now that the index has closed its fourth consecutive week atop this trendline.