Dow briefly above 11,000 points on signs of growth

April 10, 2010

The stock market closed at a new 18-month high Friday, with the Dow Jones industrial average briefly touching 11,000 before retreating slightly. The gains were driven by fresh signs that the economy continues to recover. Many analysts remain skeptical that the market's gains are sustainable because they have come on relatively low volume, indicating that a large number of investors are still sitting on the sidelines. The Dow very briefly touched 11,000 in the final five minutes of trading before ending with a gain of 70 points. It hadn't crossed that level since Sept. 29, 2008, just as the worst phase of the financial crisis was beginning. Stocks got a boost after reassuring statements from Greece's finance minister and the head of the European Central Bank. Major European indexes closed higher, while the dollar fell against the euro. Rising commodity prices also helped energy and material stocks, pushing indexes higher.

- Associated Press

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