U.S. shares rally on Monday sending the Dow higher

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Source: Dukascopy Bank SA
U.S. equities advanced on Monday, as financial stocks rose. In addition, the CBOE Volatility Index tracking cost of using options as insurance against decrease in the S&P 500 Index slumped 8.2% to 11.56, the lowest in more than five years. The Dow Jones Industrial Average climbed 0.4% to 14,447.29, extending its winning streak for a fifth consecutive day. Seven out of nine groups in the index edged higher. Boeing Co rallied 2.1% to $82.94, its highest since 2008, after the jet aircraft maker said it is boosting rates of monthly airplane production. Furthermore, second best performing health care sector was supported by Merck & Co Inc. that soared 1.6% to $43.66. However, the drug maker is under threat of tax reform that would affect its corporate revenue, as currently drug maker has shifted part of its profits overseas. American Express followed with a 1.2% rise to $65.50, supporting financials.

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Tue, 12 Mar 2013 08:21:05 GMT

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