News Summary: Dow closes above 14K, a rare event

AP News
Posted: Feb 01, 2013 4:37 PM

THE WOW INDEX: The Dow closed above 14,000 on Friday, a level not seen since before the Great Recession. This also marks just the 10th time in its history that the Dow has closed above that mark.

MOM AND POP: The Dow Jones industrial average is a stock market index meant to be a gauge for the rest of the market. More small investors are getting back into stocks, which is helping drive the Dow's current gains.

THE OTHER ENGINES: Traders were encouraged by a few incremental signs of an improving economy. The unemployment rate rose but the government said that hiring over the past year had been better than previously thought. Auto sales jumped.