Stocks Advance; Dow Nears 14,000

NEW YORK (January 29, 2013)—Drug maker Pfizer gave the Dow a lift Tuesday after posting a strong earnings report that helped push the index closer to 14,000.

The Dow Jones industrial average closed at 13,954.

The index has advanced seven of the past eight days.

The Standard and Poor's 500 gained 7 points to end the day at 1,507.

The Nasdaq composite fell less than a point to close at 3,153.

Stocks are approaching record levels after a January rally that pushed the Dow 6.5 percent higher this month and the S&P 500 up 5.7 percent, to its highest level since December 2007.

Demand was bolstered after lawmakers reached a deal to avoid the "fiscal cliff" at the start of the year.

Advancing stocks outpaced declining ones on the New York Stock Exchange where volume was above average at 3.9 billion shares.

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