The Dow Jones industrial average rose above 12,000 for the first time in its 110-year history today on solid earnings by tech companies, benign inflation data and a rise in housing starts.
The Dow Jones industrial average was up 92.61 points, or 0.77 per cent, at 12,042.63. The Standard & Poor's 500 Index was up 8.12 points, or 0.60 per cent, at 1,372.17. The Nasdaq Composite Index was up 16.73 points, or 0.71 per cent, at 2,361.68.
Shares in IBM shot up 4.3 per cent to $90.65, making it the biggest boost for the Dow after the technology services company beat expectations with a 47 per cent rise in quarterly profit.