Another day, another set of record highs. The S&P 500 closed up 0.6% and the Nasdaq closed up 1%, both reaching all-time highs today.
Boeing was the best-performing Dow stock, closing 2% higher. Microsoft, Visa and Cisco Systems added to the 30-stock average's gains, advancing more than 1% each.
The major averages were coming off their first loss in five sessions, with the Dow falling more than 200 points on Friday. Mounting concerns over how the coronavirus would impact China's economy, the second-largest in the world, pressured stocks. Despite Friday's losses, Wall Street logged in its biggest weekly gain since June as the S&P 500 jumped 3.2%. Strong economic data along with solid corporate earnings reports fueled the market's weekly surge.
"Stock market investors are torn between fear that the coronavirus might continue to spread, weighing on global economic growth, and optimism given that the latest batch of global economic indicators is showing rebounding global growth," said Ed Yardeni, president and chief investment strategist at Yardeni Research, in a note.
Monthly U.S. employment data released Friday showed more than 200,000 jobs were created in January. The Institute for Supply Management said last week
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