Dow Surges 250 Pts. at Opening Bell After ISM Data

0 Posted by - January 3, 2012 - Career & Business, Economics, Money

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.

Screen shot 2012 01 03 at 10.26.52 AM Dow Surges 250 Pts. at Opening Bell After ISM Data

The Dow Jones Industrial Average soared, led by BofA [BAC  5.89  watchlist up Dow Surges 250 Pts. at Opening Bell After ISM Data  0.33 (+5.94%)   realtime icon Dow Surges 250 Pts. at Opening Bell After ISM Data] and JPMorgan [JPM  34.86  watchlist up Dow Surges 250 Pts. at Opening Bell After ISM Data  1.61  (+4.84%)   realtime icon Dow Surges 250 Pts. at Opening Bell After ISM Data].

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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