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Dow Breaks 13,000 But Can't Hold Gains

By: Associated Press
By: Associated Press

New York, NY (AP) - The Dow Jones industrial average crossed 13,000 for the first time since May 2008, before the financial crisis nearly unraveled the U.S. economy. But the marker didn't last long.

The Dow hit 13,000 just before 11:30 a.m. and stayed there for about 30 seconds, then dropped back. It reclaimed the level again around noon and just after 1:30 p.m. But the Dow gave up most of its gains for the day and is finishing up 16 points at 12,966.

The Standard & Poor's 500 rose a point to 1,362. The Nasdaq composite didn't fare as well, falling three points to 2,949.

Wal-Mart and Barnes & Noble dragged the market down Tuesday after their quarterly results missed analysts' expectations. Saks rose after beating expectations.


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