Nasdaq Keeps Up Record Run

The Nasdaq composite index rose to another record close Friday and the Dow Jones industrial average jumped to its highest level in eight weeks as economic reports eased investor fears about an interest rate increase next week.

Qualcomm led the turnaround on the Nasdaq, which had been off 72 points earlier in the day. The Nasdaq, which has risen 10 out of the past 11 sessions, ended the day up 23.86 at 3,221.15. Shares of Qualcomm, a large developer of wireless phone technology, soared 32-1/2 to 378, after J.P. Morgan issued a bullish report saying the company’s shares could hit 460 within a year.

The Dow, meanwhile, rose 174.02. The Standard & Poor’s 500 index rose 14.60.