Wall Street upbeat as industrial average rises
NEW YORK (AP) — The Dow Jones industrial average is back above 10,000 for the first time in a year. The Dow has crossed five figures seven months after it hit a 12-year low of 6,547.05 on March 9. The comeback by the stock market’s best-known indicator is the most visible sign yet that investors believe the economy is recovering from the financial crisis and recession.
Upbeat earnings reports from Intel Corp. andJPMorgan Chase & Co. gave the Dow its final push past 10,000.
The Dow closed at 10,015.86, up 144.80, or 1.5 percent.
The Standard & Poor’s 500 index rose 18.83, or 1.8 percent, to 1,092.02. The Nasdaq composite index rose 32.34, or 1.5 percent, to 2,172.23.
Winning stocks outpaced losers by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.35 billion shares.