Dow Surges 129 on Hope Britain Will Stay in EU

The NASDAQ rose 36 points
By Newser Editors and Wire Services
Posted Jun 20, 2016 3:25 PM CDT
Dow Surges 129 on Hope Britain Will Stay in EU
Trader Tommy Kalikas works on the floor of the New York Stock Exchange on Monday.   (AP Photo/Richard Drew)

Stocks closed solidly higher as investors grow more optimistic that Britain will remain in the European Union, the AP reports. Industrial and consumer stocks had some of the biggest gains Monday. Prices of bonds, gold, and utility stocks fell as investors dumped ultra-safe assets. The British pound and European stocks rose sharply as investors hoped that a British vote this Thursday to remain in the EU would avoid a blow to the European economy. The Dow Jones industrial average rose 129 points, or 0.7%, to 17,804. The Standard & Poor's 500 index rose 12 points, or 0.6%, to 2,083. The Nasdaq composite picked up 36 points, or 0.8%, to 4,837. The yield on the 10-year Treasury note rose to 1.67%. (More stock market stories.)

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