The Dow Jones Industrial Average <.DJI> hit the 12,000 level on Wednesday for the first time since June 2008.

Stocks rose after President Barack Obama called for a lower corporate tax rate, as well as on a higher-than-expected reading on home sales, though gains were limited by a weak outlook from Boeing Co .

The Dow Jones industrial average <.DJI> was up 23.46 points, or 0.20 percent, at 12,000.65. The Standard & Poor's 500 Index <.SPX> was up 5.11 points, or 0.40 percent, at 1,296.29. The Nasdaq Composite Index <.IXIC> was up 14.66 points, or 0.54 percent, at 2,733.91.

(Reporting by Ryan Vlastelica)