Dow average closes near 12,000 points

Associated Press

NEW YORK

The Dow Jones industrial average closed within 20 points of 12,000 Monday, its highest point since June 2008.

Technology stocks rose after Intel Corp. increased its dividend and said it would buy back more of its stock. The company gained 2 percent.

Materials companies rose after a report from the National Association for Business Economics showed that economists are more positive about economic growth and the job market than at any time since the start of the Great Recession in December 2007.

Vulcan Materials Co., Alcoa Inc. and Sealed Air Corp. each gained more than 3 percent. Alcoa, which jumped 4.1 percent, was the top-performing stock among the 30 that make up the Dow Jones industrial average.

The Dow gained 108.68 points, or 0.9 percent, to 11,980.52. The last time the average closed above 12,000 was June 19, 2008.