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October 14, 2009

DJ industrials pass 10,000 for 1st time in a year

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 indeed recovering from the financial crisis and recession.

Upbeat earnings reports from chip maker Intel Corp. and banker JPMorgan Chase & Co. Wednesday have given the Dow its final push past 10,000. The average has slipped back several points since crossing the milestone, but that's part of the normal ebb and flow of trading.

Investors are increasingly shaking off lingering doubts about the economy. However, analysts still warn that problems like rising unemployment and a weak housing market pose a threat to a solid recovery.

The Dow is now up 53 percent from its March low.

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