Dow Average Closes Within 50 Points of 13,000
The Dow has edged teasingly close to 13,000, a marker it hasn’t reached since before the financial crisis brought the U.S. economy to its knees.
The Dow Jones industrial average rose 46 points to 12,950, its highest close for the year so far. That followed a 123-point surge the day before.
The Standard & Poor’s 500 also popped, rising 3 points to 1,361, also securing its highest close for the year. The Nasdaq composite fell 8 points to 2,952. Among the biggest movers were Campbell Soup and ketchup maker H.J. Heinz, both of which beat analysts’ expectations for quarterly results.
The yield on the benchmark 10-year Treasury note rose to 2.01 percent from 1.99 percent, a sign that investors are becoming more comfortable with riskier stock investments.
(Copyright 2012 by The Associated Press. All Rights Reserved.)