Dow Surges by 304

Industrial and energy stocks lead the charge
By Newser Editors and Wire Services
Posted Oct 5, 2015 3:15 PM CDT
Trader Gregory Rowe works on the floor of the New York Stock Exchange.   (AP Photo/Richard Drew)

(Newser) – US stocks are closing sharply higher, led by big gains in industrial and energy stocks. The rally Monday gave the Standard & Poor's 500 its fifth daily gain in a row. General Electric led the industrial sector higher, gaining 5%, after activist investor Nelson Peltz bought a stake in the company. The Dow Jones industrial average gained 304 points, or 1.9%, to 16,776. The S&P 500 rose 35 points, or 1.8%, to 1,987.

The Nasdaq composite rose 73 points, or 1.6%, to 4,781. Bond prices fell. The yield on the 10-year Treasury note rose to 2.05%. Twitter jumped 7% after the company named co-founder Jack Dorsey its permanent CEO. Oil stocks rose along with the price of crude. Chevron climbed 3%.

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