Stocks Continue to Rally As Syria Tensions Cool, China Rebounds and Oil Cheapens $2 A Barrel
Stocks rallied for a second straight day as the conflict in Syria seems to have reached a peaceful resolution and upbeat economic data from China suggests the Asian giant may have averted a hard economic landing. A new composition for the Dow Industrials and the launch of a cheaper and more colorful iPhone also commanded attention today, all contributing to another triple-digit gain in the Dow to a 3-1/2 week high.
With geo-political tensions easing, commodity prices have retreated as both precious metals and oil close in the red. The S&P index traded above the 50 day moving average at 747.34 and the Nasdaq raced to a 13 year high, buoyed by early gains in Apple ( AAPL ) and ARM Holdings ( ARMH ).