Dow closes above 38,000 for first time
By Krystal Hur, CNN
New York (CNN) — Stocks gained on Monday, building on last week’s gangbusters rally, with the Dow crossing the 38,000 mark for the first time ever.
The Dow rose 138 points, or 0.4%, ending the day at 38,001.81. The S&P 500 gained 0.2% and the Nasdaq Composite added 0.3%.
The S&P 500 also closed at an all-time high, reaching 4,850.43.
Year-end price targets for the Dow range from from 34,000 to 45,000, according to Capex.
The S&P 500 on Friday entered bull market territory, rallying more than 20% off its lows and hitting a new record.
Elsewhere, Macy shares added 3.6% after the company over the weekend rejected a $5.8 billion bid from Arkhouse Management and partner Brigade Capital Management to take the company private.
Spirit Airlines shares popped 19.5% after the company and JetBlue on Friday filed an appeal of the ruling blocking their planned merger. JetBlue shares gained 0.2%.
Archer-Daniels-Midland shares slid 24.2% after the company placed its chief executive on leave and trimmed its earnings forecast after launching a probe into its accounting practices.
The-CNN-Wire
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