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Stocks rose meekly Wednesday morning after their biggest loss this year as reassuring reports on productivity and hiring overshadowed jitters about the Greek debt crisis.

Stocks suffered their biggest losses in three months Tuesday, the first hiccup in a strong and steady rally to start the year. Wall Street worried about the global economy and waited while Greece pressured the last investors to sign on for its bailout.

Wall Street's bulls have reason to celebrate: The Dow Jones industrial average closed above the psychologically important 13,000 mark for the first time since the financial crisis began in 2008.

A rally on Wall Street will be put to the test next week, with the S&P 500 at its highest level since before the collapse of Lehman Brothers in 2008.

U.S. stocks moved higher in a choppy session Tuesday, with the Dow Jones industrial average moving above 13,000 for the first time since May 2008. The 13,000 level doesn’t hold a great deal of significance to market analysts, but “it’s nice to see a symbolic number,” Art Cashin, UBS director of floor operations, told CNBC. The Dow last moved above 13,000 on an intra-day basis on May 20, 2008. It last closed above that level on May 19, 2008.

U.S. stocks closed in on the psychologically important mark of 13,000 for the Dow Jones industrial average as optimism about the Greek bailout and the European financial situation sent stocks up in early trading.

It was just last summer that the Dow Jones industrial average shed 2,000 points in three terrifying weeks. Investors had a host of things to worry about, including the possibility of another recession. Now the Dow is within reach of the rarefied 13,000 mark — a level it hasn't seen since May 2008, four months before the financial system almost came apart.

Stocks edged lower on Monday as a delay by debt-ridden Greece in accepting the terms of a bailout gave investors little reason to buy equities after a five-week rally.

U.S. stocks rose on Friday, propelling the Nasdaq index to an 11-year high, after January's U.S. employment report sailed past expectations, boosting hopes for world's largest economy.

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