Dow Closes Near Record High

NEW YORK (February 12, 2013)--The Dow closed at its highest level of the year Tuesday, coming within one percent of its record reached in October 2007.

The latest gain was powered by impressive results from two big consumer brands, Avon and luxury clothing maker Michael Kors.

The Dow Jones industrial average rose 47 points to end the day at 14,018 Tuesday, putting it within 146 points of its record high of 14,164.

Avon surged 20 percent after its quarterly loss was less than analysts feared. Michael Kors rose 9 percent after its results impressed investors.

The Dow surged at the start of the year, logging its best January in almost two decades.

The S&P 500 gained a little more than 2 points to close at 1,519.

The Nasdaq composite was down more than 5 points at 3,186.

Two stocks rose for every one that fell on the New York Stock Exchange where trading was lighter than the recent average at 3.3 billion shares.

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