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Dow Jones Closes Near Record-High

Salomon Fuentes |
February 12, 2013 | 3:25 p.m. PST

Executive Producer

Wall Street is riding high thus far in 2013 (Creative Commons/Benjamin Dumas)
Wall Street is riding high thus far in 2013 (Creative Commons/Benjamin Dumas)
The Dow Jones Industrial average closed at 14,018.70 points Tuesday, just 146 points shy of the mark set in October of 2007, before the U.S. economy fell into a prolonged recession.

Overall, the Dow has risen 7 percent since the start of the year and last month was the best January for the Dow in two decades. 

The rise is partially attributed to Congress reaching a "fiscal cliff" deal that staved off new taxes for most Americans and an overall strengthening U.S. economy, including more jobs. Consumer spending also was cited as a reason for the uptick, with luxury clothing company Michael Kors doing far better than expected on Tuesday.

President Obama is expected to make the economy one of the key themes of in his State of the Union address Tuesday evening.

Reach Executive Producer Salomon Fuentes here; Follow him on Twitter here.



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