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Dow closes above 13,000 for first time since 2008

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By DANIEL WAGNER
AP Business Writer

The Dow Jones industrial average has closed above 13,000 for the first time since May 2008, four months before the financial crisis.

Preliminary figures show the Dow closed up five points Tuesday to finish at 13,005. The average is up more than 6 percent this year, mostly because of enthusiasm about the building US economic recovery.

The Dow first broke 13,000 on April 25, 2007. The last time it ended the day above 13,000 was May 19, 2008. The Great Recession was six months old.

The close puts the Dow less than 1,200 points away from an all-time high.

(Copyright 2012 by The Associated Press. All Rights Reserved.)

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While everyone is infatuated with the Dow...

it's just 30 stocks and not a good measure of the overall strength of the economy. In it's purest form, the Dow average would be the average of the the 30 Dow stocks at the closing bell. Today, it's the most convoluted number out there in terms of the three stock averages.

Pay attention to the S & P 500...that is a better measure of the overall strength of the economy.

One this is certain, Obama and his economic policies are not the cause of the rise in the Dow.

Darn that Obama!

That Socialist is ruining us! It is bad enough that Yankees are buying million dollar homes again. Now the DOW up to 13 K!? If we are not careful unemployment is going to drop again and we will be in a heck of a mess!

The DJIA is a poor barometer

As much as I appreciate the money I have made in the past six months, the DJIA is in no way a good barometer of how healthy the economy is, or where it's headed.

Take the time to chart the DJIA between 1929 and 1940, and you'll notice two apparent bull markets in the midst of the Great Depression. By 1937 the DJIA had recovered half of it's pre-10/29 value, but unemployment remained in the high teens. In mid-1937, it went into free-fall again and unemployment rocketed back up to nearly 20%.

The Dow can hit 15,000, but if we don't get our national debt reduced (and I mean quickly) it will drop like a rock in short order.

No way I'm leaving tent city

No way I'm leaving tent city man. I love it here.

Can't have that!

Too late! Jobs are already opening up!

Can't have people going back to work. Now that will really mess things up!