Dow Tops 13,000 on Confidence Data as Euro Strengthens

U.S. stocks climbed, sending the Dow Jones Industrial Average to its first close above 13,000 since 2008, as confidence jumped to a one-year high and oil retreated for a second day. The euro gained before the European Central Bank provides funds tomorrow to support banks.

The Dow added 23.61 points, or 0.2 percent, to 13,005.12 and the Standard & Poor’s 500 Index closed up 0.3 percent to 1,372.18 at 4 p.m. in New York. The euro strengthened 0.5 percent to $1.3471, near its highest level of the year. Ten-year Treasury yields increased one basis point to 1.93 percent. Oil sank 1.9 percent to $106.55 a barrel after yesterday halting a seven-day gain, its longest since January 2010. Apple Inc. rallied after U.S. exchanges closed, rising to a price that would give it a $500 billion market value.