Dow Jones Industrial Average closes at highest level since 2007

NEW YORK -- The Dow Jones industrial average didn't crack 14,000 on Tuesday but it nonetheless closed at its highest level in more than five years.

NEW YORK — The Dow is closing at its highest level of the year, coming within one percent of its record reached in October 2007. The latest gain was powered by impressive results from two big consumer brands, Avon and luxury clothing maker Michael Kors. The Dow Jones industrial average rose 47 points to 14,018 Tuesday, putting it within 146 points of its record high of 14,164. Avon surged 20 percent after its quarterly loss was less than analysts feared. Michael Kors rose 9 percent after its results impressed investors.

NEW YORK — The Dow is closing at its highest level of the year, coming within one percent of its record reached in October 2007. The latest gain was powered by impressive results from two big consumer brands, Avon and luxury clothing maker Michael Kors. The Dow Jones industrial average rose 47 points to 14,018 Tuesday, putting it within 146 points of its record high of 14,164. Avon surged 20 percent after its quarterly loss was less than analysts feared. Michael Kors rose 9 percent after its results impressed investors.

Strong-than-expected news about the factory sector has sent the Dow Jones industrial average up to a level not seen since the end of 2007.» E-Mail This     » Add to Del.icio.us

The Standard & Poor's 500 closed at its highest in five years on Friday after a report showed that hiring held up in December, giving stocks an early lift. The S&P 500 finished up 7.10 points at 1,466.47, its highest close since December 2007, AP reported.

Another major milestone for the stock market: the Dow Jones Industrial Average today climbed past its highest closing level since 2007. Right now, the index is up 96 points – or 0.7 percent – on the day. Below is a chart showing the gains (click to enlarge):