*This is no doubt good news for President Obama on the morning after his State of the Union address. It’s one more sign that the economy is recovering.
The Dow Jones industrial average today climbed above 12,000 points for the first time since June 2008.
The blue-chip index has surged 24% in less than seven months as investors have gained confidence in the staying power of the economic recovery.
Since hitting bottom in March 2009 in the wake of the global financial crisis and the deepest recession in decades, the Dow has gained more than 5,400 points, a stunning 83%.
The world-famous stock average still has about 2,000 more points to recover before it matches its all-time peak of 14,164.53, set in October 2007.