Dow hits 14,000 for 1st time since October 2007
Friday, February 01, 2013 02:25 pm
NEW YORK – The Dow stock market index flirted with the 14,000 line Friday, dashing above it several times throughout the morning and bringing reminders of the last time it hit that mark — almost a different era, before the financial crisis rocked the world economy.After rising steadily in early trading, the Dow Jones industrial average briefly crossed 14,000 shortly after 10 a.m. EST. It lasted only a moment. Then, after 11 a.m., it started flitting above that key mark again before falling back to around 13,990. The other major stock indexes were also up, pushed higher by the U.S. jobs report and auto sales.
Crossing 14,000 is a rarefied event: The Dow has done so only 15 times in its history, and the last time was more than five years ago, on Oct. 17, 2007.
If the gains hold throughout the day and the Dow closes above 14,000, that would put it in territory even more uncommon. On just nine days has the Dow managed to stay above the 14,000 mark until the end of trading. Friday's gains also mean that the Dow is within striking distance of its all-time record of 14,164.53, which it reached on Oct. 9, 2007.