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 February 12, 2018 - 4:33 PM EST
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Dow Surges After Last Week's Selloff

Dow Surges After Last Week's Selloff

U.S. stocks rose on Monday as the major indexes rebounded from their worst weekly performances in two years.

The Dow Jones industrial average screamed higher 410.37 points, or 1.7%, to 24,601.27, DowDuPont and Apple were the best-performing stocks in the Dow, advancing 3.4% and 4% respectively.

The S&P 500 gained 36.45 points, or 1.4%, to 2,656, with materials and information technology as the best-performing sectors.

The NASDAQ popped 107.47 points, or 1.6%, to 6,981.96

Shares of Amazon, Bank of America and Apple — which fell sharply last week — all rose by at least 2.5%.

The Dow and S&P 500 both pulled back 5.2% last week, notching their worst weekly declines since January 2016. The NASDAQ composite, meanwhile, dropped 5.1%, marking its biggest one-week pullback since February 2016. The indexes also dipped into correction territory.

The latest move higher follows news that the White House will unveil a long-awaited infrastructure plan that includes $200 billion in federal infrastructure spending over 10 years.

Prices for the benchmark 10-year Treasury note fell slightly, raising yields to 2.86% from Friday's 2.85%. Treasury prices and yields move in opposite directions.

Oil prices recovered 11 cents a barrel to $59.31 U.S.

Gold prices shone brighter $8.50 to $1,324.20 U.S. an ounce.


Source: Livemoney (February 12, 2018 - 4:33 PM EST)

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