The Dow Jones Industrial Average (DJI) flirted with triple-digit gains for most of the day, as European Central Bank (ECB) President Mario Draghi's dovish comments from last Friday -- combined with several M&A-related headlines -- strengthened investor confidence. By day's end, the Dow was solidly above the critical 17,000 level, and within striking distance of 17,100. Making even more headlines, however, was the S&P 500 Index's (SPX) foray into territory north of 2,000 -- a first for the SPX -- which had several analysts already predicting additional gains.
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The Dow Jones Industrial Average (DJI - 17,076.87) rallied 75.7 points, or 0.4%, as 24 out of 30 components finished higher. Leading the way was JPMorgan Chase & Co. (NYSE:JPM), which ended with a 1.5% lead. Meanwhile, Intel Corporation (NASDAQ:INTC) paced the six losers, down 0.4%.
The S&P 500 Index (SPX - 1,997.92) finished the day just shy of 2,000 -- despite toppling the elusive mark for the first time in history, with an intraday high of 2,001.95 -- but still managed to tack on 9.5 points, or 0.5%, for the session. The Nasdaq Composite (COMP - 4,557.35) added 18.8 points, or 0.4%, and hit yet another 14-year high of 4,571.14.
The CBOE Volatility Index (VIX - 11.70) also ended higher, but finished below 12 for the fourth consecutive session. By the close, the market's "fear gauge" was up 0.2 point, or 2.0%.
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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