Stocks bounced back from a wobbly start Monday to notch a fifth-straight gain, as Wall Street continued to eye the bond market.
Treasury yields pulled back from Friday’s sharp increase. The S&P 500 index rose 0.7% to a new high as technology and consumer discretionary shares’ gains were offset by falling banks and energy stocks. The Dow Jones Industrial Average gained 0.5%. The Nasdaq Composite jumped 1.1%. Investors focused on the U.S. and global economic recovery from the pandemic.
The S&P 500 rose 25.60 points, or 0.7%, to 3,968.94.
The Dow Jones Industrial Average rose 174.82 points, or 0.5%, to 32,953.46.
The Nasdaq rose 139.84 points, or 1.1%, to 13,459.71.
The Russell 2000 index of smaller companies rose 7.38 points, or 0.3% to 2,360.17.
For the year:
The S&P 500 is up 212.87 points, or 5.7%.
The Dow is up 2,346.98 points, or 7.7%.
The Nasdaq is up 571.43 points, or 4.4%.
The Russell 2000 is up 385.31 points, or 19.5%.