Dow Pierces 13000

The Dow broke 13000 just before 11:30 a.m. EST on Tuesday, fell back and then did it again just after noon. The index was trading just shy of the mark in midday trading, up 40 points, or 0.3%, at 12990. The Dow last traded at the 13000 level on May 20, 2008. The last time the Dow closed above that level was May 19, 2008.

The Standard & Poor's 500-stock index was up 5.9 points, or 0.4%, to 1367. The Nasdaq Composite added 11 points, or 0.4%, to 2963.

Seven of the S&P sectors were higher, led by energy and materials stocks. Among blue chips, Alcoa rose the most, gaining 3.3%, followed by Caterpillar, which was up 2.1%.

Euro-zone finance ministers agreed to a €130 billion ($172 billion) rescue deal that requires private creditors to take a 53.5% haircut on their Greek debt. That is more than the 50% agreed on in October.

Read Full Article from Wall Street Journal

- Posted: 2012-02-21 12:39:31

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