Dow 13,000?

The Dow Jones Industrial Average has been rallying all year and is approaching the key 13,000 level.

With Dow futures up roughly 40 points in the premarket, a strong rally today could send the index above that level. Breaking 13,000 would send the market to a level it has not seen since mid-2008.

CPI data released today was roughly in-line with expectations, perhaps indicating that the Federal Reserve will be able to keep its easy-money policies going for quite some time, which may continue to support asset prices.

Of course, an implosion an Europe could see the market trading sharply lower. Investors should keep an eye out for Greece.