| Dow | 12,318.14 | +29.97 | +0.24% |
By: Abby Schultz
Stocks closed moderately higher amid light volume to reach new multi-year highs after a slew of economic news, including rising inflation and strong regional manufacturing data.
The Dow Jones Industrial Average rose 29.97 points, or 0.24 percent to close at 12,318.14, the highest close since June 5, 2008.
The S&P 500 rose 4.11 points, or 0.3 percent, to close at 1,340.43, the highest close for the broad market index since June 19, 2008. The S&P 500 is now trading at more than double its lowest level during the financial crisis.
The Nasdaq gained 6.02 points, or 0.2 percent, to close at 2,831.58, its highest close since Oct. 31, 2007. The tech-heavy Nasdaq is only 27.54 shy from its multi-year high of 2,859.12, hit on Oct. 31, 2007.
The CBOE Volatility Index, widely considered the best gauge of fear in the market, fell below 17.


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