Dow Within 100 of 13,000 as Stocks Barrel Higher

By: Christina Rexrode, Associated Press
By: Christina Rexrode, Associated Press

New York, NY (AP) - Stocks have surged to their highest close of the year.

The Dow Jones industrial average rose 123 points Thursday to 12,904, its third triple-digit gain this year. It's the highest close for the Dow since May 19, 2008, four months before the worst of the financial crisis.

It's quite a turnaround from Wednesday, when the Dow lost 97 points -- its most all year -- and positions the Dow tantalizingly close to 13,000.

Slivers of good news about U.S. jobs and housing outweighed concerns about the Greek debt crisis.

The broader Standard & Poor's 500 index rose 15 points to 1,358, and the Nasdaq composite rose 44 points to 2,960.

Advancing stocks outnumbered declining stocks 3-to-1. Volume was average, a little more than 4 billion shares.

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  • by Bob Location: Crawfordvilee on Feb 16, 2012 at 02:51 PM
    Once again, the American people are given false hope before the election. I wonder how many other things will greatly improve. Three years, nothing. Election year, hope and CHANGE.
  • by Gerry Location: Tallahassee on Feb 16, 2012 at 02:24 PM
    As of 17:00 ET, Feb 16, the US borrows for 10 years at 1.98%. Total US national debt on 2/15/12 = $15.392 trillion. On 1/20/09 = $10.627 trillion. On 1/20/01 = $5.728 trillion. Increase in total national debt during Obama's administration = $4.765 trillion. During George W. Bush's administration = $4.899 trillion. Source for debt info =
  • by Gerry on Feb 16, 2012 at 01:51 PM
    My genius babble will be posted shortly
    • reply
      by Anonymous on Feb 16, 2012 at 04:50 PM in reply to Gerry
      Well where is it?
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