Dow Logs Highest Close Since '07; Eyes Record

The blue-chip average ended at its highest level since October 2007 Tuesday, climbing within 130 points of its all-time closing high. The broader S&P 500 also logged a five-year high, while the Nasdsaq ended at its best level in 12 years. Today's Markets The Dow Jones Industrial Average rose 53.9 points, or 0.39%, to 14036, the S&P 500 gained 11.2 points, or 0.73%, to 1531 and the Nasdaq Composite climbed 21.6 points, or 0.68%, to 3214. Every major closed in the green with the exception of materials. The energy, consumer staple and utility sectors posted the best performance. On the other end of the spectrum, material stocks struggled. While the Dow is less than 1% off its record close, the S&P still has about 2.2% to go and the Nasdaq is 36% off its dot-com era high. The recent race higher on Wall Street has been accompanied with very smooth trading. Indeed, volatility, as tracked by the CBOE's VIX, has receded to levels not seen since 2007.