Market Indexes Rally as Oil Retreats and Chip Stocks Surge
Oil fell back toward $100 and chip stocks went vertical. The S&P 500 is within 1% of a record again.
Overview
Oil fell on Monday. Bond yields eased, semiconductor stocks threw a party, and the major stock market indexes showed up with potluck dishes.
The Nasdaq Composite (NASDAQINDEX: ^IXIC) climbed 1.8% as of 12:04 p.m. ET, the S&P 500 (SNPINDEX: ^GSPC) rose 1.2%, and the Dow Jones Industrial Average (DJINDICES: ^DJI) managed 0.5%. The S&P is now roughly 1% from the record high it set last month, which seemed a lot further away on Friday.
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Originally published at www.fool.com.
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