Dow tacks on 1.65%, and pushes back over 10,000
The Dow Jones Industrial Average pushed back through the psychologically relevant barrier of 10,000 Friday, as investors saw promise in remarks from Federal Reserve chairman Ben Bernanke. The benchmark index of 30 blue chip stocks closed up 164.84 points, or 1.65%, Friday to 10,150.65 a day after finishing below five figures Thursday for the first time since early July at 9,985.81. Friday morning, Bernanke said the Fed has more tools at its disposal to stimulate the economy, and the DJIA rose steadily thereafter. The S&P 500 index climbed 17.32 points Friday to close at 1,064.54 and the Nasdaq Composite rose 34.27 points to 2,152.96. The markets dipped below 10,000 after a string of disappointing housing and macroeconomic news this week, but lifted after slightly positive Q2 GDP results and the announcement by Fed chair Ben Bernanke that the government is committed to more economic stimulus if need be. Write to Jason Philyaw.