It's been two and a-half years since investors saw the Dow Jones Industrial Average close above 12,000.
Today, the blue chip index gained 148.23 points, or 1.3%, to close at 12,040.16, the highest level since June 19, 2008. Pfizer (PFE) helped boost the index, thanks to better-than-expected fourth-quarter results.
Strong results from UPS (UPS) and improvement in U.S. manufacturing also helped lift optimism about the global economy. The Institute for Supply Management's index for manufacturing activity rose to a reading of 60.8 in January, from 58.5 in December. Readings above 50 indicate expansion in the sector. It was the highest reading since May 2004, and the 18th straight month of expansion.
Chinese Internet search giant Baidu.com (BIDU) jumped in today's trading as well, after the company late Monday said that its fourth-quarter profit more than doubled.
The Nasdaq Composite Index jumped 51.11, or 1.9%, to close at 2751.19, its best level since August 28, 2008, and the Standard & Poor's 500 index added 21.47, or 1.7%, to 1307.59, the highest close since June 25, 2008.
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