What's not to like about Dow 13,000? While most investors cheered when the blue-chip index closed above that level Tuesday for the first time since May 2008, some were wringing their hands. The Dow Jones industrial average has left the Dow transportation average behind, and that could mean trouble.
The stock market closed mostly lower Friday, sending the Dow Jones industrial average to its first losing week of 2012, after the government reported that economic growth was slower at the end of last year than economists expected.
A jump in U.S. consumer confidence sent stocks modestly higher today. Investors were also encouraged by new efforts from European leaders to find more aggressive cures for the region's debt crisis. The Dow Jones industrial average ended with a gain of 32 points, following a 291-point surge Monday.
The Dow Jones industrial average fell more than 100 points Tuesday after Japan raised the alert level on its nuclear crisis and Alcoa Inc. reported disappointing revenue growth. Energy stocks fell sharply after oil prices dropped.
Oil prices near $107, a 20% increase since Libyan uprisings began in February The Dow Jones industrial average has risen 6.4 percent in the first three months. The index of 30 large companies gained 742 points in that stretch. Measured against other first quarters, that's the largest point gain since 1998 and the second best on record.
Francesca Levy and Matthew Craft
, March 31, 2011
Stocks rose Thursday, a day after suffering their worst losses in seven months. The government said first-time applications for unemployment benefits dropped last week to 385,000, a bigger fall than economists expected.
Investors are back to being optimistic about corporate earnings
Stocks ended a choppy day with a moderate rebound Monday. The Dow Jones industrial average regained 56 of the 261 points it lost on Friday, and the other major indexes also rose.
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