Dow Back Above 10,000
UPDATED at 3:10 p.m.
After opening with a pullback from 10,000 this morning, the Dow climbed back above the five-digit barrier and then spent most of the day zig-zagging above and below the line.
With a little less than an hour to go in the trading day, the Dow is up 20 points, or two-tenths of 1 percent, at 10,035.
The broader S&P 500 is up the same amount and the tech-heavy Nasdaq is just into negative territory.
Stocks have been pushed higher by Goldman Sach's boffo third-quarter profit of $3.2 billion, just below J.P. Morgan Chase's quarterly profit, reported yesterday. Troubled Citigroup managed to eke out a $101 million quarterly profit.
Also pushing stocks higher today is oil, which has settled above $77 per barrel for the first time this year.
The Dow hit and then closed above 10,000 yesterday for the first time in more than a year, marking an important mile post along the way to recovery. But the road is not smooth from here. I wrote a piece on what you need to know about Dow 10K, which you can read by clicking here.
Tech giants Google and IBM report quarterly earnings after the bell.
-- Frank Ahrens
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October 15, 2009; 3:10 PM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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