Dow Breaks 12,000 Mark

By Houston Business Journal

The Dow Jones industrial average crossed over the 12,000 mark on Wednesday â¿¿ the first time in more than two years â¿¿ and some high-profile Houston energy company stocks fared well.

The Dow reached 12,020.52 early in Wednesdayâ¿¿s session, up 37 points, or 0.3 percent, before slipping back under 12,000 and then rebounding to 12,002 by mid-afternoon. The Dow closed at 11,985.44. The last time the Dow closed above 12,000 was in June 2008.

Some of the better-performing Houston energy stocks included Halliburton Co. (NYSE: HAL), which gained $3.20, or 8 percent, to close at $43.40 after reaching a new 52-week high of $43.65 early in the session. Surging energy shares across the board took the Philadelphia Oil Service Index to 260 points, a level also not seen since mid-2008 when oil was over $140 a barrel.

Meanwhile, Cameron International Corp. (NYSE: CAM) also reached a new 52-week high of $53.64 before closing at $53.35, up $3.03 or 6 percent, as did ConocoPhillips (NYSE: COP) which moved to its new 52-week high of $69.81 before closing at $69.25, up $1.77, or 2.6 percent.

Rosetta Resources Inc. (NASDAQ: ROSE) shares also had a strong session, gaining 8 percent, or $2.73, to close at $36.81.

Copyright 2011 American City Business Journals

http://www.bizjournals.com/houston/news/2011/01/26/dow-breaks-12000-mark.html?ana=thestreet

Copyright bizjournals.com 2010

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