Day Traders Diary
U.S. stocks jumped sharply on Monday in a broad-based rally as stocks tied to the economic reopening jumped on vaccine optimism, while tech names rebounded from steep losses last week.
The 30-stock Dow Jones Industrial Average jumped 603.14 points, or 2%, to 31,535.51, boosted by a 5.8% jump in Boeing. The S&P 500 gained 2.4% to 3,901.82 as all 11 sectors registered gains, posting its best day since June 5. The tech-heavy Nasdaq Composite, which shed 4.9% last week, also popped 3% to 13,588.83.
Fewer than 40 stocks in the S&P 500 posted losses on Monday, the first trading session of March. At the Big Board, advancers outnumbered decliners by four-to-one. Energy and financials, which are popular cyclical plays, jumped more than 2.5% each amid optimism on vaccines. Meanwhile, high-growth tech shares outperformed as rates stabilized. Apple popped 5.4% and Tesla rose 6.4%.
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