Friday, October 20, 2006

DOW 12K: Wall Street Traders On Cloud 12,000


The Dow Jones industrial average closed above 12,000 Thursday.

The index of 30 blue chip stocks closed at 12,011.

The latest record came on the anniversary of Black Monday in 1987, when the Dow plunged 508 points and also suffered its second-biggest percentage drop in history. The Dow finished that day at 1,793.

Trading was erratic today, with the overall market struggling after a pair of reports signaled the Federal Reserve might have a tougher time managing a soft landing of the economy. Disappointing earnings in the technology sector also weighed on stocks.

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