Stocks added to their sharp gains on the first trading day of the New Year following a better-than-expected manufacturing and construction reports in addition to a robust economic report from China.
The Dow Jones Industrial Average soared, led by BofA [BAC 5.89 
0.33 (+5.94%) 
] and JPMorgan [JPM 34.86 1.61 (+4.84%) ].
The S&P 500 and the Nasdaq also rallied sharply. The CBOE Volatility Index, widely considered the best gauge of fear in the market, was trading near 23.
All 10 S&P sectors were firmly in the black, led by financials and materials.
CONTINUED at CNBC.
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