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Stocks Rally As Earnings and Economy Drive S&P To Fresh Record High

By: MT Newswires
Posted: 1/15/2014 4:00:00 PM
Referenced Stocks: AAPL;BAC;CHTP

The stock market was back on the offensive, hitting record highs and nearly wiping out last week's losses, with Bank of America ( BAC ) earnings, bullish economic data, and tech-sector strength all catalysts. The Dow Industrials advanced by triple digits, the S&P 500 broke another record high led by gains in Apple ( AAPL ), while the Nasdaq rallied to a new 13-year high with help from Chelsea Therapeutics ( CHTP ). While volume dried up later in the day, and momentum evaporated, the indices held onto the bulk of their earlier gains indicating likely strong market sentiment for the remaining Q4 earnings and the rest of this week's data on housing, jobs and manufacturing.