Bank stocks lead Dow to a 73-point gain
Investors shook off worries about Greece Monday and got back to their routine of little-by-little gains.
The Dow Jones industrial average climbed 73 points -- enough to regain most of what it lost with an 89-point drop Friday. Before that, stocks enjoyed a slow, steady climb this year.
Financial stocks led the Dow higher. Its biggest gainers were Bank of America, up 2.23 percent, and JPMorgan Chase, up 1.83 percent. Financial stocks have been the best performers in the market this year.
Apple crossed $500 per share for the first time, with a 1.86 percent rise to close at $502.60. The company jockeyed with Exxon Mobil last year for the title of most valuable by market value but now enjoys a wide lead, $468 billion to $400 billion.
The market's gains were broad-based, with nine of 10 stock categories in the Standard & Poor's 500 rising, led by industrial stocks. Utilities declined by a whisker. European stocks rose.
The Dow closed up 72.81 points, or 0.57 percent, at 12,874.04. It's 16 points shy of its highest close since the 2008 financial meltdown. The S&P rose 9.13 points, or 0.68 percent, to 1,351.77. The Nasdaq composite rose 27.51 points, or 0.95 percent, to 2,931.39. The Dow is up 5.4 percent on the year and the S&P 7.5 percent.
-- AP
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