: S&P 500 books best day since late-August as stocks rally to start the week
U.S. stocks rallied on Monday to finish the first trading day of the week in the green as investors shrugged off concerns the conflict erupted last week between Israel and Hamas may lead to a broader war in the Middle East, while looking ahead to the start of the third-quarter earnings season to better gauge the economy’s temperature. The Dow Jones Industrial Average DJIA advanced 313 points, or 0.9%, to end at 33,984, while the S&P 500 SPX rose 1.1% and the Nasdaq Composite COMP gained 1.2%. The rally in the traditional safe-haven assets paused on Monday, with the most-active December gold contract settled lower, at $1,934.30 an ounce on Comex, reversing course after rising safe-haven demand spurred a series of gains in the yellow metal. U.S. Treasury yields rose on Monday afternoon, with the yield on the 10-year Treasury up 8.1 basis points to 4.709%, while the yield on the 30-year Treasury jumped 8.8 basis points to 4.865%, according to Dow Jones Market Data.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.