The Dow Jones industrial average scored its first close above 12,000 Thursday as Wall Street, contending with fresh data that pointed to a weakening economy, managed to hold on to a slim advance.
One day after the index of 30 blue chip stocks made its first foray past 12,000, the Dow closed at 12,011.73. Strong earnings from Coca-Cola Co. helped lift the Dow to its record, the ninth time in just over two weeks that the Dow has reached a new closing high.
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 1,793.90 — a far cry from Thursday’s record.
Dear Reader - The enemies of freedom are choking off the Gateway Pundit from the resources we need to bring you the truth. Since many asked for it, we now have a way for you to support The Gateway Pundit directly - and get ad-reduced access. Plus, there are goodies like a special Gateway Pundit coffee mug for supporters at a higher level. You can see all the options by clicking here - thank you for your support!