Dow Tops 14,000 For The First Time Since October 2007

Posted at 12:22 PM, Feb 01, 2013
and last updated 2013-02-01 12:22:41-05
NEW YORK —  (CNNMoney) Less than an hour into the trading day, the Dow Jones industrial average jumped 140 points, or 1%, to hit 14,000.97. That marked the first time the blue-chip index topped 14,000 since October 2007. Within minutes it pulled back, but is still hovering just below the psychologically important level. The Dow is now less than 200 points, or 2%, from its all-time high of 14,198.10.

The S&P 500 and Nasdaq also gained 0.7%.

The strong advance followed reports on the job market, the manufacturing sector, construction spending and consumer sentiment, which all pointed to a healthy economic recovery.

The U.S. economy added 157,000 jobs last month, fewer than the 180,000 economists were expecting, but investors were encouraged by the government’s revisions to its 2012 data. The revisions showed that the economy added 335,000 more jobs in 2012 than originally reported.