It has taken a lot longer than investors would prefer, but the Dow Jones average closed above the 14,000 level today, February 1, 2013 for the first time in more than five years.
A rally in blue chip stocks- which most all companies in the Dow average are comprised- helped push the Dow to a first of February close of 14,009.79. The rally was fueled, in part, by the release of the January Jobs Report- a report that showed 157,000 new jobs added in January, 2013 and upward revisions to the job gains previously reported for November and December 2012.
Among the 30 companies that make up the Dow averages, 28 showed gains for the day. Bank of America finished at the head of the pack, increasing 3.45% in one day. The only two losing stocks in the Dow were Merck and Hewlett- Packard, which declined 3.28% and 0.30% respectively.
Several companies watched today as their stocks hit not just five year- highs, but all- time highs. Google, 3M, Proctor & Gamble, J.M. Smucker, and Tupperware all reached the highest stock price levels in company history. Many other large businesses didn’t quite reach all- time highs, but are very close and may reach new heights if the rally continues.
The all- time record high for the Dow close is 14,164.53 reached on October 9, 2007. Another rallying session or two like the one seen today could easily send the Dow to a new all- time close.
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