Dow Jones briefly exceeds 10,000 points

Dow Jones average hits 10,000 for first time since 2008

Following unexpected quarterly profits from Intel and JPMorgan Chase, the Dow Jones industrial average reached 10,000 points today. While it dropped later in the day,when the U.S. markets closed, the Dow Jones was able to rebound and closed above 10,000. It had been more ethan a year since the industrial average exceeded the 10,000 mark – the last time being Oct. 7, 2008.

“Better than expected is a win,” said Peter Schwartz, cofounder of Global Business Network, according to CBS News. “People’s expectations have been calibrated to buffer some of the bad news.”

Tom Schrader, managing director at Stifel Nicolaus, an investment banking firm, said the market is not in the clear just yet. According to CNN, Schrader says the retail sales report, also released Wednesday, indicates the economic recovery won’t be smooth-sailing. However, “people are looking forward,” says Schrader.

While some Twitterers are looking forward…

Metroliner (San Francisco, CA) DOW 10,000! DOW 10,000! What recession? http://twitpic.com/lid0i 14 Oct 2009 from Tweetie

TheBest_One (Undisclosed) Holla-ing at the Dow Jones today. WOO! 14 Oct 2009 from web

imrananwar (Long Island, NY) Dow Jones industrial average topped 10,000 for the first time in a year after 12-year low of 6,547.05 on March 9 14 Oct 2009 from TweetDeck

Moracchio (Undisclosed) Dow Jones above 10,000….yee haaa! 14 Oct 2009 from Seesmic

Gheemoo (Queens, NY) The dow, now a five digit number. This definitely isn’t the solution to the bad economy BUT the Dow Jones climb isn’t detrimental. 14 Oct 2009 from web

Wrigleyville41 (Undisclosed) Dow Jones hit 10k today, good news! 14 Oct 2009 from txt

…the news wasn’t always well-received:

cboyack (Lehi, UT) The Down Jones is meaningless. Watch it if you like fantasy. If you prefer to live in the real world, watch gold and the dollar index. 14 Oct 2009 from Tweetie

Spidey004 (Buffalo, NY) Dow Jones has topped 10,000. WE’RE SAVED! 14 Oct 2009 from web

jester1176 (Santa Clara, CA) Great. The Dow Jones hit 10,000. Is that like getting the high score in Donkey Kong? What does that even mean any more? 14 Oct 2009 from web

robertcoffman (Undisclosed) The Dow Jones over 10,000. So 14 Oct 2009 from mobile web

livo46 (Maltby, UK) The Dow Jones hit 10,000 today but what goes up must come down 14 Oct 2009 from web

thedriverpicks (Undisclosed) So where’s my job? RT @BreakingNews: The Dow Jones Industrial Average passes 10,000 for the first time since October 7th, 2008. 14 Oct 2009 from Seesmic