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NEW YORK (MarketWatch) -- U.S. stocks on Friday finished with weekly gains that had the S&P 500 index closing above 1,500 for the first time since late 2007. Breaching the psychological level could bring some investors back into the market, strategists said. "A lot of folks are still on the sidelines from 2007 thinking the world is coming to an end, maybe now it's time to start look at this thing again," said Art Hogan, market strategist at Lazard Capital Markets. Extending gains into an eighth session in its longest winning run since early 2004, the S&P 500 added 8.14 points, or 0.5%, to 1,502.96, leaving it up 1.1% for the week. The Dow Jones Industrial Average added 70.65 points, or 0.5%, to 13,895.98, with the blue-chip index rising 1.8% for the week. The Nasdaq Composite gained 19.33 points, or 0.6%, to 3,149.71, leaving it 0.5% higher from the week-ago close. Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.