Sunday, March 4, 2012

DOW HITS RECORD 2,002.(Main)

Byline: John Crudele New York Times

Carried aloft by the stock market's stunning New Year rally, the Dow Jones industrial average closed above 2,000 on Thursday for the first time ever.

The 30-stock Dow average is now up 5 percent in just five trading days of this year, and much broader market indicators have done even better.

"Two thousand, we have two thousand," one trader yelled across the room of his midtown brokerage firm on Thursday a few minutes before 3 p.m., when the average first pierced the coveted mark.

The Dow - the oldest and most closely followed of all the market gauges, tabulating 30 of America's best-known companies - gained a modest 8.30 points, to finish just over 2,000, at 2,002.25.

A firm bond market, renewed interest in American stocks by foreign investors, and the momentum of the market itself made for a strong final 60 minutes.

Many of the professionals working on …

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