Dow stops just below 13,000 level

NEW YORK: US stocks closed higher Monday pulled up by banking shares, with the Dow ending just a few ticks below the 13,000 level last seen in May 2008.

The Dow Jones Industrial Average finished up 10.29 points (0.08 percent) at 12,993.24.

The broad-based S&P 500 added 1.85 (0.14 percent) to 1,367.59, while the tech-rich Nasdaq Composite gained 2.41 (0.08 percent) to 2,966.16.

After losing 100 points at the opening, the Dow clawed back ground to hit 13,027 in late afternoon trade after a bit of profit taking.

The last time the Dow closed above 13,000 was May 19, 2008, when markets were plunging as the US financial crisis spread.