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U.S. stocks rose Tuesday, sending the Dow Jones Industrial Average to its first close above 13,000 since May 2008, as consumer confidence hit a 12-month high and oil prices fell.
The Dow Jones Industrial Average /quotes/zigman/627449 DJI +0.18% added 23.61 points, or 0.2%, to 13,005.12. It had topped 13,000 in the past two sessions, only to give up the level by the close. The last time the blue-chip index finished above the round-number mark was May 19, 2008, or before the start of the most recent bull market.
A close above 13,000 matters some in that it “focuses attention on the market and the fact the market is doing well, so it might be a psychological boost,” said Hugh Johnson, chairman of Hugh Johnson Advisors.
“What is really making things go is there is no real end in sight in the sense that there is nothing in the stock market, and in money and economic news, that says we’re at the end of the cycle,” Johnson said.
Originally posted by DrNotforhire
I miss Bush...
Originally posted by surrealist
said Hugh Johnson,