Stocks rose Monday as investors built on the previous session’s historic move to record highs.
The Dow Jones Industrial Average climbed 138.01 points, or 0.36%, to finish at 38,001.81. Monday’s gains pushed the blue-chip average to a new record and above the 38,000 level for the first time. The S&P 500 added 0.22% to 4,850.43, also reaching a fresh all-time high. The Nasdaq Composite advanced 0.32% to 15,360.29.
Monday’s gains come after the broad S&P 500 on Friday broke above its intraday and closing record highs set in January 2022. The move signaled that Wall Street is indeed in a bull run that began in October 2022 after stocks plunged earlier that year.
“It’s almost like a fear of missing out,” said Brian Price, head of investment management at Commonwealth Financial. “We had a little bit of volatility to start the year as investors maybe rebalance portfolios and look to realize some gains. But now, it just seems like we’re resuming the trend that was clearly in place” in the fourth quarter.
www.cnbc.com/2024/01/21/stock-market-today-live-updates.html