Dow Jones average tops 11,000 prior to earning season

08:37, April 12, 2010      

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The Dow Jones average index topped 11,000 for the first time in 18 months on Friday as earning season is to kick off next week.

Wall Street kept its sixth consecutive gain on Friday as worries over Greece waned and market sentiment was boosted by strong wholesale inventories and sales data.

US wholesale inventories rose 0.6 percent in February while sales of wholesalers were up 0.8 percent to a seasonally adjusted $338.66 billion, according to the Commerce Department.

The numbers were far beyond expectations, lifting major indexes higher right after their release.

The Dow Jones industrial average gained 70.28, or 0.64 percent, to settled at 10,997.35, after topping the 11,000 benchmark for the first time since September 2008.

The Standard & Poor's 500 index climbed 7.94, or 0.67 percent, to 1,194.37 and the Nasdaq was up 17.24, or 0.71 percent, to 2,454.05.

Source: Global Times


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