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Dow Jones closes above 13,000 for first time since 2008 financial crisis

New York, Wed, 29 Feb 2012 ANI

New York, Feb.29 (ANI): Wall Street's bulls have reason to celebrate after the Dow Jones industrial average closed above the psychologically important 13,000 mark for the first time since the financial crisis began in 2008.


The stock market's best-known indicator has climbed more than 2,000 points in just four months, rising 20 percent from its recent low of 10,655.30 on October 3.


A stream of evidence indicating that the U.S. economy is on the mend has driven the blue chips' latest milestone, the Los Angeles Times reports.


The broader market also shared the rally, with the Standard and Poor's 500 and technology-heavy Nasdaq finishing the session higher.


Investors four years ago sent the Dow barreling past 13,000 as the country's biggest companies were turning in blockbuster earnings reports and the overall economy was on a major upswing.


This time around there is an uneasy sense of optimism about the future.


Wall Street remains worried that the current situation could be a repeat of early 2011, when a major stock rally collapsed during the second half of the year. (ANI)


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