Stocks climbed on Monday, extending this month's solid gains and pushing all three major market gauges to their highest closing levels of 2003, as investors bet on an upbeat start to the new year.
Technology shares took the lead, pushing the Nasdaq Composite (.IXIC: Quote, Profile, Research) above the psychologically important 2,000 level to its highest finish in about two years...
So far this December, the Dow is up 6.8 percent, the S&P 500 is up 4.9 percent, and the Nasdaq Composite is up 2.4 percent. Year-to-date, the Dow is up 25.3 percent, the S&P 500 is up 26.1 percent and the Nasdaq Composite is up 50.2 percent, putting all three on track to post their first annual gains since 1999.
Stocks: Holiday spending buoys Wall Street
Stocks rose Monday amid early indications that the holiday retailing season went well, including a report from Mastercard that consumer spending was up 6.5 percent.All of this sunny economic news is sure to leave the Krugmanites scrambling for a black cloud to cling to.