Stock markets around the world got off to a strong start this week, building on last week's gains. In the U.S., lower than expected new home sales and a neutral reading from the Chicago Fed national activity index did little to diminish investor enthusiasm, as they bought shares hand over fist. The move higher was led by financial and technology shares.
The Industrials opened strong and gravitated higher throughout the session to close near the highs, up 399 points or 1.58%. The Transports did even better on a percentage basis, rising 1.80%, while the Nasdaq climbed 1.15% and the S&P 500 gained 1.18%. The only average in the red today (aside from the VIX) was the Utilities, which shed 0.20%.
Action here in the States built on strength overseas earlier in the day. In Asia, gains across all major markets left the Asia Dow up 0.90%. Europe reflected that strength, as all major markets there ... Log in or subscribe to continue reading.