Dow Jones industrial average rises above 12,000

The Dow is in territory it hasn't been in more than a year (AP)

January 26, 2011 9:14:28 AM PST
The Dow Jones industrial average is surpassing 12,000 as investors shrug off weak earnings results and focus on President Barack Obama's call to overhaul corporate taxes.

The average climbed to 12,006 early Wednesday. The last time it closed above 12,000 was June 19, 2008.

Obama said he wanted to close corporate tax loopholes and use the additional revenue to lower corporate tax rates for the first time in 25 years.

That offset weak earnings results from Boeing Co., Xerox Corp. and Eastman Kodak Co.

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