NEW YORK, FEB. 19 -- The stock market jumped ahead today on a late burst of buying that pushed the Dow Jones average of 30 industrials past the 2000 level to a six-week high.
The Dow climbed 28.18 points to 2014.59, its highest close since it stood at 2051.89 on Jan. 7. For the past week the average showed a net gain of 31.33. Advancing issues outnumbered declines by more than 2 to 1 on the New York Stock Exchange.
Big Board volume came to 180.30 million shares, up from 151.43 million in the previous session.
Several analysts at major investment firms have lately grown a bit more optimistic about the outlook for the market, citing signs of strength in the manufacturing sector. Buying interest has been evident in some manufacturing stocks and many of the smaller "secondary" issues.
After a rally last week that carried over to Tuesday, the market flattened out for a couple of days. But no concerted selling pressure developed.
Newton Zinder, an analyst at Shearson Lehman Hutton, said that encouraged traders to step in and buy before the weekend.
Brokers also said the market might have benefited from computer-program activity by professional traders involving an expiring stock-index futures contract.
Gainers among the blue chips included Ford Motor, up 2 1/2 at 44 3/4; Du Pont, up 1 3/4 at 85; Merck, up 2 1/2 at 161 1/4; Philip Morris, up 1 1/2 at 90 5/8, and American Telephone & Telegraph, up 1/4 at 29 1/2.
Brockway jumped 11 to 57 1/2. Owens-Illinois said a federal court denied the Federal Trade Commission's request to block its $60-a-share bid to acquire Brockway.
Phillips Petroleum rose 1 to 15 1/4. The company said it would have a $25 million gain in the current quarter from the settlement of a gas contract dispute.
Pannill Knitting fell 1/2 to 5 1/2. The company reported fourth-quarter earnings of 53 cents a share, against operating profits of 50 cents in the last three months of 1986.
As measured by Wilshire Associates' index of more than 5,000 actively traded stocks, the market increased $25.82 billion, or 1.01 percent, in value.
Nationwide turnover in NYSE-listed issues, including trades in those stocks on regional exchanges and in the over-the-counter market, totaled 202.85 million shares.