Dow climbs above 12,000 on solid tech earnings

NEW YORK, Oct 18 (Reuters) The Dow Jones industrial average rose above 12,000 for the first time in its 110-year history on Wednesday on solid earnings by tech companies, benign inflation data and a rise in housing starts.

Shares of International Business Machines Corp. shot up 4.3 percent to .65, making it the biggest boost for the Dow after the technology services company beat expectations with a 47 percent rise in quarterly profit.

The Dow Jones industrial average was up 92.61 points, or 0.77 percent, at 12,042.63. The Standard&Poor's 500 Index was up 8.12 points, or 0.60 percent, at 1,372.17. The Nasdaq Composite Index was up 16.73 points, or 0.71 percent, at 2,361.68.

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