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Dow Passes 13,000 On Friday

The Dow Jones surged past the 13,000 mark on Friday.

July 28, 2012– On Friday, the Dow Jones passed the 13,000 mark, as investors were pleased with information from Europe over the debt crisis in the eurozone. The Dow jumped by 187 points on the day to close above 13,000. It was the first time the Dow has closed over that figure since May 7. The S&P 500 index was up nearly 26 to 1,385, while the Nasdaq jumped 64 points to close at 2,958.

New signs that point to leaders in Europe saying they are ready to support the region helped to push stocks up sharply for the second consecutive session. Mario Draghi, the President of the European Central Bank is making an attempt to win over policy makers in Europe on his plan of strengthening the financial health of the eurozone. On that news, stocks in the U.S. gained ground. The news said President Draghi would meet in the coming days with Bundesbank’s chief in Germany.

One analyst called Draghi’s work as something that shows the ship might remain afloat. He said everyone benefits if the eurozone is held together. Preceding the reports about Draghi’s plan, were statements from Francois Hollande, France’s President and Angela Merkel the Chancellor of Germany, which supported the eurozone. Their unity helped extend a rally that started Thursday afternoon.

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