Dow Closes Above 13,000


0  Updated at 4:14 pm, July 27th, 2012 By: ABC Digital
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Hemera/Thinkstock(NEW YORK) — The Dow ended the week with a bang. The index climbed higher Friday, closing above 13,000 for the first time since May 7.

The Dow added 187.73 points, while the Nasdaq and S&P gained 64.84 points and 25.95, respectively.

Efforts by European Central Bank President Mario Draghi to devise a plan for reviving the euro zone’s economy eased investor worries, according to the Wall Street Journal.

Corporate earnings reports released Friday ranged from poor to positive, the Journal reports.

Companies including the online travel service Expedia beat analyst expectations, while Facebook shares fell Friday despite reporting higher than expected earnings on Thursday. At the week’s close, Facebook was trading at $23.70.

Starbucks reported earnings well below earlier projections, leading shares in the company to lose 9.42 percent Friday.

Copyright 2012 ABC News Radio

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