Dow reaches 12,000 level for first time since 2008
President Barack Obama’s State of the Union address might have had an immediate impact on the economy, at least in the short term.
The Dow Jones industrial average today rose above the 12,000 level for the first time since June 2008. The Standard and Poor’s 500 Index and world stocks rose, and the MSCI’s all-country world index was up almost 0.5 percent.
“(Obama) would like to simplify the tax system and keep corporate tax rates low,” said Keith Bowman, equity analyst at Hargreaves Lansdown in London in an interview with Reuters. “That has been taken well by investors.”
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