The Dow Jones Industrial Average (DJINDICES:^DJI) hit 14,000 for the first time in five years today, ending the trading week on a positive note. You have to go all the way back to Oct. 2007 to find the last time that the market was trading this high.
The markets are higher despite a report this morning showing lighter-than-expected job growth, and the country's unemployment rate inching back up to 7.9%
Despite the iffy economic news, all but two of the Dow's 30 components closed higher on the day. The Dow itself rocketed 1.1% higher, to 14,009.79.
Today's Dow leaders
Today's Dow leader is Bank of America (NYSE:BAC), up 3.5%.
A banking giant would seem to be an odd gainer on a day when the unemployment rate moved higher, but an important part of the report was that the 2012 numbers were revised higher, by 335,000 jobs. If more people are working, it means fewer people who are likely to default on their home loans. Bank of America also kicked off its rebranding initiatives this week.
AT&T (NYSE:T) was another climber today, rising 2.1%.
Ma Bell announced that Mike McCallister -- Humana's CEO until retiring last year -- has been added to its board of directors. AT&T had also announced that it was introducing 4G LTE connectivity in two more markets yesterday. Ithaca? Macon? Welcome to faster data.
We also had United Technologies (NYSE:UTX) ascend 2.6% on the day.
Pratt & Whitney -- a United Technologies subsidiary that makes aerospace components -- is part of a consortium that announced today the delivery of the first V2500-powered A320 with Sharklets to India's largest airline.
Aerospace may not seem like a very scintillating industry these days. The only Dow component trading lower so far in 2013 is industry bellwether Boeing (NYSE:BA). However, Boeing's malaise is solely company-specific, because the news keeps going from bad to worse for its 787 Dreamliner aircraft.
At the end of the day, if the global economy is showing signs of life, aerospace will be one of its greatest beneficiaries as the leading players fulfill pent-up demand for new aircraft.
For now, we can simply enjoy the Dow taking off. The view looks sweet at 14,000 feet -- and rising.