Dow Jones today: Dow closes above 53,000 as narrow chip-led rally beats weak breadth
The Dow Jones Industrial Average closed above 53,000 for the first time on Monday, a record finish that looked stronger in the index than it did under the tape. The Dow ended at 53,056.80, up 156.73 points, or 0.30%, after a 52,648.69-to-53,060.10 range. The S&P 500 closed at 7,537.48, up 54.24 points, or 0.72%; the Nasdaq Composite rose 1.12%. The useful number was not just 53,000. It was 408.11 points, the Dow’s rebound from its session low to the close. Earlier, the Dow had been down 251 points, and only 12 of its 30 stocks were rising, according to Dow Jones Market Data cited by MarketWatch. S&P 500 decliners outnumbered advancers by 1.3-to-1 in Reuters’ midday market update.