Dow's mark more of a confidence builder.

Publication: Chicago Tribune (Chicago, IL)

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COPYRIGHT 2006 Chicago Tribune

Byline: Robert Manor

Oct. 20--The Dow Jones industrial average closed above 12,000 for the first time Thursday, a hard-fought milestone for a stock market index that has struggled in recent years to recapture the momentum that came so easily in the 1990s.

The breakthrough came without any dramatic leap, as the Dow hovered just above or below 12,000 for two days. But the stock market has been strong for weeks, and the new record reflects confidence by investors in some large companies--even at a time when the economy is sending mixed signals.

The Dow's latest milestone came on the anniversary of Black Monday in 1987, when the Dow plunged 508 points and also suffered its biggest one-day percentage drop in history.

The Dow finished...

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