Dow Hits New High, Nears 12,000

The Dow Jones industrial average rose 95.57 points today to close at 11, 947.70. The rise was fueled by good news from Costco and McDonalds.

"Everyone's big concern has been that the economy has been riding on the back of the consumer and that high gas prices would get them to stop spending, but at least we know that they are still going to McDonald's and Costco" said Eric Kuby, chief investment officer at North Star Investment Management Co. in Chicago.

Also gaining today was the S&P 500 Index by 12.88 points to hit 1,362.76. That was a new 5-year high. The Nasdaq also turned in a positive by 37.91 points to 2,346.18.

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