(Reuters) - 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 (BA.N).

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.

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