Stocks rallied Monday, building off of their best weekly performance in a month, as a pledge by the G20 to keep stimulus in place spurred investors' appetite for risk.
The Dow Jones Industrial Average jumped 203.52, or 2 percent, to close at 10,226.94, a new high for 2009. The S&P 500 gained 2.2 percent and the Nasdaq advanced 2 percent.
Major U.S. Indexes
.DJIA 10226.94 203.52 +2.03% 819,414,000
.NCOMP 2154.06 41.6201 +1.97% 0
.SPX 1093.08 23.78 +2.22% 3,710,113,300
Finance ministers and central bankers from the G20 nations agreed over the weekend to keep stimulus flowing, sending the dollar down and stocks up.
The dollar fell across the board. Oil rose $2, settling at $79.43 a barrel. Gold settled at $1,100.80 an ounce, after hitting a new record above $1,110 earlier.
M&A activity also helped give the market a boost.
"We continue to have a positive outlook for continued momentum and industry-leading fundamentals," the analyst said.
As the end of the year approaches, more attention will be paid to just how strongly stocks have come back from the depths they reached back in March: Both the Nasdaq and the S&P 500 are on pace to chalk up their best annual percentage gains since 2003.
No major economic releases are on the calendar for Monday.
The Treasury begins another record-setting week of auctions, as it sells $91 billion in 3-year notes, 10-year notes, and 30-year bonds beginning. Shortly after 1 pm New York time, we'll get the results of the first leg of those sales, with $40 billion in 3-year notes being sold. more...
DJIA Weekly Chart
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