Dow Adds 23 Points; Closes Above 13,000 For First Time Since May 2008

The major averages showed great resilience on Tuesday, posting gains despite a terrible durable goods report. Stocks were bolstered in part by rising consumer confidence, lower oil prices, and continued momentum amidst the rally that began at the beginning of the year. The Dow Jones Industrial Average added 23.61 points to close at 13,005, its first close over 13,000 since May 2008. The widely watched blue-chip index traded in a range between 12,952 and 13,021. The SPDR S&P 500 ETF SPY added 0.29% to close at $137.56. Volume was once again light with around 129 million SPY shares trading hands compared to a 3-month daily average of 162 million. Crude oil pulled back in afternoon trade but remains firmly entrenched above $100. NYMEX crude futures lost 1.94% to $106.45 while ICE Brent contracts fell 1.98% to $121.71. In ETF trading, the United States Oil Fund USO shed 0.95% to $40.79. Precious metals moved higher along with stocks on the day. COMEX gold futures rose 0.64% to $1,786.30 while silver futures surged 3.89% to $36.99. The heavily traded SPDR Gold Trust ETF GLD climbed 1.04% to $173.49. Treasuries were moderately weak on the day. The iShares 20+ Year Treasury Bond ETF TLT lost 0.33% to $118.15. The yield on the 10-Year Note rose 1.6 basis points to 1.94%. The U.S. Dollar fell on the session along with Treasuries. The PowerShares DB US Dollar Index Bullish ETF UUP, which tracks the performance of the greenback versus a basket of foreign currencies, lost 0.46% to $21.78. The closely watched EUR/USD pair is currently trading at $1.3458.