Dow average closes within 50 points of 13,000

NEW YORK - The Dow has edged teasingly close to 13,000, a marker it hasn't reached since before the financial crisis brought the U.S. economy to its knees.

The Dow Jones industrial average rose 46 points to 12,950, its highest close for the year so far. That followed a 123-point surge the day before.

The Standard & Poor's 500 also popped, rising 3 points to 1,361, also securing its highest close for the year. The Nasdaq composite fell 8 points to 2,952.

Among the biggest movers were Campbell Soup (CPB) and ketchup maker H.J. Heinz (HNZ), both of which beat analysts' expectations for quarterly results.

The yield on the benchmark 10-year Treasury note rose to 2.01 percent from 1.99 percent, a sign that investors are becoming more comfortable with riskier stock investments.

The markets will be closed on Monday in observance of Presidents Day.

Comments

Market Data

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

Market News

Stock Watchlist

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.

Download
The all new
CBS News App for Android® for iPad® for iPhone®
Fully redesigned. Featuring CBSN, 24/7 live news. Get the App