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Dow Jones average hits highest mark since '07

4:20 PM, May 1, 2012   |    comments
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NEW YORK (AP) - The Dow Jones industrial average is closing at its highest level in more than four years.

The fastest growth in U.S. manufacturing in 10 months gave stocks a lift Tuesday. Orders, hiring and production all rose in April.

The Dow added 66 points to 13,279, its highest close since Dec. 28, 2007.

The Standard & Poor's 500 index rose eight points to 1,406. The Nasdaq composite climbed four to 3,050.

All 10 industry groups within the S&P 500 were higher, led by energy companies. Chesapeake Energy Corp. jumped 6 percent on reports that the company will replace its chairman, Aubrey McClendon.

Nearly two stocks rose for every one that fell on the New York Stock Exchange. Trading volume was light at 3.7 billion.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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