Market Overview

Dow Rallies Triple Digits to Start Week

Dow Rallies Triple Digits to Start Week

The Dow Jones Industrial Average rallied sharply to start the week on Monday. The Dow Jones Industrial Average jumped a little over 100 points to close at 13,235. The widely watched blue-chip index traded in a range between 13,134 and 13,244.

The SPDR S&P 500 ETF (NYSE: SPY) jumped 1.19 percent to $143.80. Volume was lighter than normal with around 101 million SPY shares trading hands compared to a 3-month daily average of 133.6 million.

The PowerShares QQQ Trust ETF (NASDAQ: QQQ), which tracks the performance of the Nasdaq 100, added 1.32 percent to close at $65.54. The QQQ has now climbed better than 17 percent in 2012.

Crude oil climbed on the session. NYMEX crude futures, the U.S. benchmark, jumped 0.71 percent to $87.35 while Brent crude contracts fell 0.22 percent to $107.96. The United States Oil Fund ETF (NYSE: USO) added 0.63 percent to $32.01.

Precious metals were mixed on the day. At last check, COMEX Gold futures were up 0.12 percent to $1,698.90 while silver futures fell 0.02 percent to $32.28. The heavily traded SPDR Gold Trust ETF (NYSE: GLD) registered a gain of 0.19 percent to $164.46.

Long-term government bond prices plunged on the day. The iShares Barclays 20+ Year Treasury Bond ETF (NYSE: TLT) fell 1.50 percent to $121.75. The yield on the 10-Year Note jumped 7 basis points to 1.77 percent.

The U.S. dollar was flat on the session. The PowerShares DB US Dollar Index Bullish ETF (NYSE: UUP), which tracks the performance of the greenback versus a basket of foreign currencies, closed the day unchanged. The closely watched EUR/USD pair was last trading at $1.3160, essentially flat on the day.

Posted-In: Bonds Broad U.S. Equity ETFs Futures Commodities Currency ETFs Forex Intraday Update Markets Best of Benzinga


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