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Dow Crosses 13,000 For First Time Since May 2008
By
Jen Chung
Published Feb 21, 2012
Modified Feb 21, 2012
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By
Jen Chung
Published Feb 21, 2012
Modified Feb 21, 2012
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The Dow Jones Industrial Average crossed the 13,000 mark today, in the wake of the Greek bailout deal. The Wall Street Journal reports, "It was the first time the Dow reached the 13000 level on an intraday basis since May 20, 2008. The last time the Dow closed above that level was May 19, 2008. Shares pulled back a bit in late morning. The Dow was up 46 points, or 0.4%, at 12996."
And CNBC thinks the glass is half-full for big bonuses this year: "Now, though, with 13,000 reached for the first time since May 2008, some are wondering whether the news finally might push retail investors off the sidelines. Traders normally 'don't put too much faith into' such events, but might reconsider now, says Ryan Detrick, senior analyst at Schaeffer's Investment Research in Cincinnati. 'In this particular case, we still know a lot of retail investors missed a good majority of the rally,' he says. 'A big benchmark such as 13,000 could be a nice sign to maybe some investors that they may want to start putting some of their money into the market.'"
Tagged
dow jones
economy
new york stock exchange
recession
wall street
Jen Chung
Jen Chung is a former WNYC and Gothamist editor.
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Gothamist is funded by sponsors and member donations
Gothamist is funded by sponsors and member donations
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