The Dow Jones industrial average <.DJI> briefly climbed above the psychologically important 10,000 level on Wednesday as U.S. stocks advanced on strong quarterly profits.

The 30-stock blue-chip index last traded above 10,000 in early October 2008.

The Dow is down roughly 29.4 percent from its October 2007 record close of 14,164.53.

The Dow Jones industrial average <.DJI> gained 123.26 points, or 1.25 percent, to 9,994.32. The Standard & Poor's 500 Index <.SPX> rose 14.82 points, or 1.38 percent, to 1,088.01. The Nasdaq Composite Index <.IXIC> added 26.67 points, or 1.25 percent, to 2,166.56. (Editing by Padraic Cassidy)