YEREVAN, June 18. /ARKA/. U.S. stocks surged Monday, with the Dow industrials extending their triple-digit moves into a fifth session, as investors latched onto any clues ahead of Wednesday’s monetary-policy decision by the Federal Open Market Committee.
“I’m a little surprised investors are willing to get this much in front of the FOMC meeting, just on the off chance the Fed says something meaningful,” Mark Luschini, chief investment strategist at Janney Montgomery Scott.
The Dow Jones Industrial Average DJIA +0.73% has made a triple-digit move in 11 of the 16 sessions that followed Bernanke’s May 22 briefing to Congress.
After rallying as much as 191 points, the Dow finished up 109.67 points, or 0.7%, at 15,179.85, with 25 of its 30 components advancing, including Boeing Co. BA +1.18% , which said General Electric Co.’s GE +1.06% aircraft-leasing arm had pledged to buy 10 of its 787 jets.
The S&P 500 SPX +0.76% added 12.31 points, or 0.8%, to 1,639.04, with energy and technology pacing sector gains that included all but one of its 10 industry groups.
Netflix Inc. NFLX +7.12% surged 7.1% after the video-streaming service inked a multi-year accord with DreamWorks Animation SKG Inc. for original programming. Micron Technology Inc. MU +3.76% jumped 3.8% after Citigroup raised its price target for the memory-chip manufacturer.
The Nasdaq Composite COMP +0.83% rose 28.58 points, or 0.8%, to 3,452.13.
For every stock falling, two gained on the New York Stock Exchange, where 677 million shares traded. Composite volume neared 3.1 billion. –0–
