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Dow Jones Breaks 11,000

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Monday, January 9, 2006 Lower oil and natural gas prices and a General Motors (GM) upgrade sent the Dow Jones Industrial above the 11,000 mark for the first time since before September 11, 2001. The last time the Dow was above eleven thousand was June 13, 2001 when it closed at 11,012.40 before retreating slightly. The Dow's alltime record was set back on January 14, 2000 when it closed at 11,722.98.

The impact of the Dow even getting to 11,000 is "psychological and hard to measure, but clearly you can't dismiss it," said Hugh Johnson, chairman of asset management company Johnson Illington Advisors. "If it wakes up investors then it is of some value."

General Motors (up $1.09 to $21.89) was the Dow's biggest gainer, up five percent, after Goldman Sachs raised its rating on the automaker.

Sirius Radio also added to the Dow's gain, up nearly 2 percent (to $6.65) as Howard Stern made his debut on the satellite waves.

Oil prices, although still high, fell $1.21 to $63.05 a barrel.

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  This page is archived, and is no longer publicly editable.
Articles presented on Wikinews reflect the specific time at which they were written and published, and do not attempt to encompass events or knowledge which occur or become known after their publication.

Got a correction? Add the template {{editprotected}} to the talk page along with your corrections, and it will be brought to the attention of the administrators.

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Note that some listed sources or external links may no longer be available online due to age.

The text of this article is licensed under the terms of the Creative Commons Attribution 2.5 License
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