Monday, January 09, 2006

Dow looking to end the day over 11,000

Go Dow Jones!

The Dow Jones Industrial Average broke past the 11,000 mark for the first time in four and a half years on Monday afternoon, extending a recent rally.

The average broke past the psychologically important level in the early afternoon to reach an intraday high of 11,003.

True it's only a number and doesn't really reflect anything per se, but the DJIA has improved over 3,700 points since the low of 7,286 shortly after 9/11. As I write this Financial Times has the Dow at 11,011.98. Keep it up traders!

UPDATE: Since the Dow's moved up mainly on the back of a strong rebound of GM stock, I thought I'd link these sweet pics from the Detroit Auto Show.

UPDATE 2: Well the rest of the blogosphere is doing it, and I must cave to the peer pressure, so here it is...

Hat Tip to Ace and Jason Coleman.