The Dow Jones Industrial Average closed above 12,000 for the first time after Coca-Cola Co.’s profit beat analysts’ estimates and Lehman Brothers Holdings Inc. predicted faster earnings growth for telephone companies.

AT&T Inc. and Verizon Communications Inc., the two largest American providers of phone service, led the Dow’s advance. Energy shares rose, boosting the broader market, after OPEC said it will cut production to stem a decline in oil prices.

Earnings reports from financial companies, the biggest segment of the American market, and data that cast doubt on the pace of economic growth limited the gains. Citigroup Inc. and Bank of America Corp. dropped after third-quarter earnings showed rising interest rates made loans less profitable.

The Dow rose 19.05, or 0.2%, to 12,011.73 for its fifth record close in the past six days. The Standard & Poor’s 500 Index added 1, or 0.1%, to 1366.96. The Nasdaq Composite Index increased 3.79, or 0.2%, to 2340.94.

Today’s milestone for the Dow average was reached 1,879 trading days, or more than seven years, after the gauge reached 11,000 for the first time. The interval was the second-longest between 1000-point moves. Only the average’s climb to 2000 from 1000, a 15-year advance, took longer.

Optimism about earnings growth and signs of easing inflation has pushed the Dow average up 2.9% this month. Stocks have also advanced on speculation the Federal Reserve will leave interest rates unchanged for the third consecutive month next week. Policy makers meet on October 24-25.