Stocks hit 2-year highs

(CNNMoney.com) -- Stocks closed at two-year highs Thursday, with two of the three major indexes hitting their highest levels since September 2008. Investors looked on the brighter side of mixed reports on housing and jobs that came out before the opening bell.

The Dow Jones industrial average (INDU) closed 41 points higher, or less than 0.4%, to end at 11,499.25 -- the highest close since Sept. 8, 2008. The S&P 500 (SPX) gained 8 points, or 0.6%, to 1,242.87, its highest closing level since Sept. 19, 2008. The tech-heavy Nasdaq (COMP) rose 20 points, or 0.8%.

Gains were broad-based in the Dow, with 25 of its 30 components closing higher.

Despite Thursday's mixed reports, economic data have been relatively upbeat lately. Stocks have performed well in December so far, with the three major indexes up 2% to almost 4%.

Trading is expected to be quiet over the next few weeks, and some traders are starting to close up their portfolios ahead of year's end. Many market participants will start taking holiday vacation next week, and few economic reports are on tap for the remainder of the year. (more)