Dow Jones closes above 14,000

Posted: Updated:

NEW YORK (MYFOXNY) -

The Dow Jones industrial average closed above the 14,000 mark Friday -- for the first time since October 2007.

After that 2007 benchmark, the stock market declined as a financial crisis rocked the world.

The stock average shot up Friday after traders saw positive signs in a mixed U.S. jobs report and strong auto sales.

The average broke 14,000 just after 10 a.m. but retreated below the milestone moments later. It went back over the 14,000 mark again in the afternoon.

The Dow's all-time high is 14,164.53, which it reached on Oct. 9, 2007. The index has more than doubled since falling to close at low of 6,547 on March, 3, 2009.

The Dow is an index of 30 big companies. Its purpose is to represent how the broader stock market is faring. It's more a representation of how traders are feeling about the economy than the economy's underlying fundamentals, but hitting 14,000 is still considered an important psychological milestone.

The Dow has gained 6.7 percent since the start of 2013.

The Associated press contributed to this report.

Manhattan NewsManhattan NewsMore>>
NYPD detective arrested in computer hacking case
NYPD detective arrested in computer hacking case
Updated: Tuesday, May 21 2013 1:15 PM EDT2013-05-21 17:15:24 GMT
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers. Edwin Vargas was arrested Tuesday outside his home in Bronxville.
An NYPD detective is accused of hacking into department computers and obtaining information about dozens of people including co-workers.
Caroline Kennedy's jury acquits drug dealer
Caroline Kennedy's jury acquits drug dealer
Updated: Tuesday, May 21 2013 7:23 AM EDT2013-05-21 11:23:53 GMT
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
The New York jury on which Caroline Kennedy served has acquitted a man of dealing crack cocaine. Kennedy was juror No. 7 at the trial of Harlem resident Nelson Chatman.
Met Opera disbands its ballet company
Met Opera disbands its ballet company
Updated: Tuesday, May 21 2013 6:51 AM EDT2013-05-21 10:51:26 GMT
The Metropolitan Opera says it's decided to disband its resident ballet company.
The Metropolitan Opera says it's decided to disband its resident ballet company. The American Guild of Musical Artists said the eight remaining dancers of the Metropolitan Opera Ballet have accepted buyout packages.
NYPD ups patrols after bias killing of gay man
NYPD ups patrols after bias killing of gay man
Updated: Monday, May 20 2013 6:05 PM EDT2013-05-20 22:05:22 GMT
A spate of hate-fueled attacks on gay men in New York, including a killing in the heart of one of its most gay-friendly neighborhoods, is stirring up anxiety, disbelief and outrage.
A spate of hate-fueled attacks on gay men in New York, including a killing in the heart of one of its most gay-friendly neighborhoods, is stirring up anxiety, disbelief and outrage.
3 NYU researchers charged with taking bribes
3 NYU researchers charged with taking bribes
Three people have been charged with taking bribes from a Chinese government-supported institution in exchange for restricted research from a New York University lab.
Three people have been charged with taking bribes from a Chinese government-supported institution in exchange for restricted research from a New York University lab.
Hate crime murder in Greenwich Village
Hate crime murder in Greenwich Village
Updated: Monday, May 20 2013 6:44 AM EDT2013-05-20 10:44:36 GMT
Police arrested a man they say shot and killed a gay man after shouting homophobic slurs at him in Greenwich Village early Saturday morning.
Police arrested a man they say shot and killed a gay man after shouting homophobic slurs at him in Greenwich Village early Saturday morning.
Man falls on Broadway theater marquee
Man falls on Broadway theater marquee
Updated: Monday, May 20 2013 6:18 AM EDT2013-05-20 10:18:06 GMT
Officials say a man suffered minor injuries after falling out of a window onto the marquee of a Broadway theater.
Officials say a man suffered minor injuries after falling out of a window onto the marquee of a Broadway theater.
NY 'frisk' judge calls criticism 'below-the-belt'
NY 'frisk' judge calls criticism 'below-the-belt'
Updated: Sunday, May 19 2013 10:57 PM EDT2013-05-20 02:57:40 GMT
The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.
The federal judge presiding over civil rights challenges to the stop-and-frisk practices of the New York Police Department has no doubt where she stands with the government.
Super Bowl 2014: The Road to Glory
Super Bowl 2014: The Road to Glory
Updated: Friday, May 17 2013 10:42 PM EDT2013-05-18 02:42:48 GMT
Fox 5 takes a look at the preparations for the Super Bowl XLVIII. This is the road to glory.
Fox 5 takes a look at the preparations for the Super Bowl XLVIII. This is the road to glory.
Union Square condo complex goes smoke-free
Union Square condo complex goes smoke-free
Updated: Friday, May 17 2013 9:47 PM EDT2013-05-18 01:47:46 GMT
Residents of Zeckendorf Towers, a condominium in Union Square, overwhelmingly voted for a residential smoking ban.
Residents of Zeckendorf Towers, a condominium in Union Square, overwhelmingly voted for a residential smoking ban.

Dow Jones closes above 14,000 - Houston weather, traffic, news | FOX 26 | MyFoxHouston

Dow Jones closes above 14,000

Manhattan NewsManhattan NewsMore>>