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Dow climbs above 14,000 for first time since Great Recession

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Again, what President is bad for business?

NEW YORK -- The Dow Jones industrial average climbed above 14,000 for the first time since the Great Recession.

The index rose as high as 14,000.97 in early trading. The index last traded above 14,000 in October 2007.

The Dow has gained 6.7 percent since the start of the year.

A budget deal, struck at the start of the year in Washington, that allowed the U.S. to avoid the "fiscal cliff" was the catalyst for a January rally. Investors then pushed stocks higher amid optimism that the housing market is maintaining its recovery and that the jobs market is slowly healing.

The index has more than doubled since falling to close at low of 6,547.05 March, 3, 2009 after the Great Recession.

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Stocks rebound on positive economic news, including... guess whose?

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Hey, good news, right?

Indexes on Wall Street rebounded on Thursday, closing up almost 3 percent, on a day fueled by bargain hunting and a stream of reports reflecting an improving economy.

Asia and European shares were also higher, and the euro regained some ground.

At the close, the Dow Jones industrials average was up 273.28 points, or 2.76 percent, to 10,172.53. The broader Standard & Poor’s 500-stock index rose 2.95 percent, or 31.15 points, to 1,086.84, while the technology-heavy Nasdaq was up 2.77 percent or 59.86 points, to 2,218.71.

Yay!

Not so fast...

Thursday’s rally was broad-based, led by energy shares, BP in particular, which was up 10 percent.

What a relief! If there's one thing BP needs, it's an increased income.

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