Dow Closes Just Shy of 13,000

The Dow Jones industrial average closed on Tuesday at 12,965, just shy of the high it reached earlier in the day. The index had surged above the 13,000 mark following news that European leaders had agreed on a $172 billion bailout deal for Greece. Standard & Poor’s 500 and Nasdaq’s numbers also spiked. The Dow last hit 13,000 in May 2008, when the national unemployment rate was 5.4 percent, compared with today’s 8.3 percent. But the rise is a meteoric shift—22 percent in total—from where the Dow stood in the summer of 2011. Meanwhile, European markets were slightly down on news of the announcement.