The Dow Jones Industrial Average (INDEXDJX:DJI) soared to a fresh record high, while the Nasdaq Composite (COMP) toppled the 5,000 level, amid a raft of foreign and domestic economic data. Helping the market higher out of the gate was a rate cut from the People's Bank of China, while relatively in-line U.S. data on manufacturing helped fuel the risk-on session. However, the broad-market rally halted gold's streak of consecutive winning sessions, while news out of Tehran weighed on crude.
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The Dow Jones Industrial Average (DJI - 18,288.63) headed higher out of the gate and never looked back, finishing at a record level -- up 155.9 points, or 0.9%. Twenty-six of the Dow's 30 components advanced, paced by a 2.6% gain at Visa Inc (NYSE:V). On the flip side, IBM led the four losers, giving back 0.9%.
The S&P 500 Index (SPX - 2,117.39) tacked on 12.9 points, or 0.6%. Also, the Nasdaq Composite (COMP - 5,008.10) jumped 44.6 points, or 0.9%, to close above 5,000 for the first time since March 2000. In the process, the tech-heavy index touched a fresh 14-year intraday high of 5,008.57.
The CBOE Volatility Index (VIX - 13.04) slid 0.3 point, or 2.3%, for its lowest close of 2015.
5 Items on Our Radar Today:
For a look at today's options movers and commodities activity, head to page 2.
The Case for Big Moves in IWM and QQQ
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