Dow Jones closes above 10,000

By Tim Paradis, AP Business Writers Published: Oct 14, 2009 at 1:05 PM PST Last Updated: Oct 14, 2009 at 5:19 PM PST
Dow Jones closes above 10,000 »Play Video
Arthur Cashin, director of floor operations for UBS Financial Services, wears his 1999 "Dow 10,000" cap, while holding the 2009 2.0 version, on the floor of the New York Stock Exchange Wednesday, Oct. 14, 2009.

NEW YORK (AP) - The Dow Jones industrial average is back above 10,000 for the first time in a year.

The Dow has crossed five figures seven months after it hit a 12-year low of 6,547.05 on March 9. The comeback by the stock market's best-known indicator is the most visible sign yet that investors believe the economy is recovering from the financial crisis and recession.

Dow Jones crosses 10,000 pointsUpbeat earnings reports from Intel Corp. andJPMorgan Chase & Co. gave the Dow its final push past 10,000.

The Dow closed at 10,015.86, up 144.80, or 1.5 percent.

The Standard & Poor's 500 index rose 18.83, or 1.8 percent, to 1,092.02. The Nasdaq composite index rose 32.34, or 1.5 percent, to 2,172.23.

Winning stocks outpaced losers by more than 3 to 1 on the New York Stock Exchange, where volume came to 1.35 billion shares.

(Copyright 2009 by The Associated Press. All Rights Reserved.)