Business, Economics and Jobs

Dow closes at five-year high


A traders watches prices at his post at the New York Stock Exchange at the opening bell August 8, 2011.


Stan Honda

The Dow Jones Industrial Average closed at a five-year high Tuesday ahead of key economic decisions by the United States and Germany.

According to CNBC, the Dow gained 69 points, or 0.52 percent, to end the trading day at 13,323 -- its best close since December 2007.

More from GlobalPost: US stocks rise for third day on growing European optimism

The Standard & Poor's 500 index rose four points to 1,434 while the Nasdaq lost one point to end at 3,105, Reuters reported.

The Federal Reserve is meeting on Thursday, and many expect the agency will launch a new effort to revive the sluggish US economy once the gathering wraps up, The Associated Press reported.

More from GlobalPost: Euro crisis dispute takes center stage in Germany

On Wednesday, Germany's high court will decide whether it can participate in a European bailout fund.

The decision is key to the success the European Central Bank’s bid to gain control of the euro area’s three-year-old crisis, Bloomberg reported.