A huge rally for stocks sends stock investors home with smiles on their facesIt has been since January 26th, but today is the first day since then that we can state that a major index closed at a record level.
The Nasdaq composite index soared by 1.79% today, and that was more than enough to get above the January 26th high and high close at 7505.77. The index is closing the day at 7560.81, up 132.87 points or 1.79%.
A huge day and yes, a record close.
In the other major indices:
- The S&P opened and closed above its 50 day MA at 2741. It closed the day at 2786.57, up 47.60 points or 1.74%
- The Dow closed up 440.53 points or 1.77% at 25335.74. It too is closing above its 50 day MA at 25294. Staying above next week will be more bullish.
For the week:
- The NASDAQ rose 4.17%
- The S&P index rose 3.54%
- The Dow industrial average rose 3.25%
For the year to date:
- The Dow is now up 2.49%
- The S&P index is up 4.23%, and the
- NASDAQ composite index is up nearly 10% at 9.52%. Wow.