Dow rallies 300 points, breaks above key technical level

Discussion in 'Market News' started by sniper-academy, Apr 17, 2018.

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  1. sniper-academy

    sniper-academy Administrator Staff Member

    Sep 30, 2011
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    The Dow Jones Industrial Average jumped on Monday, with the gain taking it above a closely watched level for the first time in more than a month. The blue-chip average rose 1.3% to 24,664. The gain took the Dow above its 50-day moving average, which is currently 24,623. The Dow hasn't risen above that level, a closely watched gauge of an asset's short-term momentum, since March 13, and it hasn't closed above it since March 9. The S&P 500 rose 1.1% on Monday and also neared its 50-day, although it remained two points below that threshold. If the S&P closes above that level, that would mark the first time it has done so since March 16. The Nasdaq Composite Index rose 1% on Monday, but remains a few points below its 50-day. The day's gains were driven by optimism over the first-quarter earnings season, as well as waning tensions related to geopolitical strife.

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