Dow tops 11,000 for first time since 9/11
The Dow Jones industrial average closed above 11,000 Monday for the first time since before the Sept. 11, 2001, terrorist attacks, lifted by a five-day rally that has sent stocks soaring so far in 2006.
According to preliminary calculations, the average of 30 blue-chip stocks ended the day up 52.59, or 0.48 percent, at 11,011.90, its first finish above 11,000 since June 7, 2001, when it closed at 11,090.74.
Monday’s advance followed a 241-point surge last week as investors grew increasingly optimistic that the Federal Reserve will soon end its string of interest rate hikes. Investment firms’ upgrades of Dow components General Motors Corp. and JPMorgan Chase & Co. gave the Dow the final push above 11,000 Monday.
Source: MSNBC.
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