Dow Closes Just Shy of 8,000

Upbeat economic news from China and interest rate cuts in Europe helped the Dow Jones rise just north of the 8,000 mark today, crossing that threshold for the first time since February 10, before ultimately closing at 7,978. The index has risen 21 percent over the past four weeks, its best four-week rally when each week has finished in positive territory since May 1933. Industrial and transportation stocks led the way—Caterpillar surged 10 percent and the Dow Jones Transportation Average gained 8.6 percent. In early-morning Friday training, Asian stocks appeared poised to continue the surge.