Dow jumps more than 400 points today: The Dow Jones Industrial Average surged 418.37 points on Monday to reach 49,310.84. This 0.86% gain defied a historic $20 billion liquidation in precious metals. A surprise 52.6% ISM Manufacturing reading fueled the rally. This data proved the US economy is expanding. Investors cheered Kevin Warsh’s Fed nomination. Markets now bet on a stable dollar. This "flight to quality" pushed stocks higher.
