The Dow Jones industrial average rose above 12,000 for the first time in nearly three years on Wednesday — for a moment or two, at least.

The index jumped above 12,000 shortly after 10 a.m. — its first time above that level since June 19, 2008 — only to falter from there. It closed at 11,985.44, up 8.25 points on the day.

While the gain was modest at best, the Dow’s brief move above 12,000 nonetheless had Wall Street talking. It was a day to take note of the market’s remarkable comeback after its harrowing slide during the financial crisis — and to ponder what’s next.

The market has come a long way already. After sinking to nearly 6,500 in early March 2009, in the aftermath of the crisis, the Dow has vaulted past one milestone after another. With Wednesday’s gain, it has advanced an astonishing 5,391 points.