Dow closes above 13,000
The Dow Jones industrial average rode a surge of confidence in the economy Tuesday to close above 13,000, a threshold it last crossed four months before the financial crisis of 2008 and the darkest days of the Great Recession.
The milestone extended a strong rally in stocks since the start of the year, and it came after a fitful week in which the Dow repeatedly floated above 13,000 only to fall back by the end of the trading day.
The Dow closed at 13,005.12, a close enough call that the gain of a single stock, Johnson & Johnson, made the difference. The Dow last closed above 13,000 in May 2008, four months before the fall of the Lehman Brothers investment bank.
“I think it’s a momentous day for investor confidence,” said Jack Ablin, chief investment officer at Harris Private Bank.
