Business

CLOSING BELL: Market has its biggest day in 6 weeks

Specialist Mario Picone, center, works with traders at his post on the floor of the New York Stock Exchange, Monday, April 17, 2017. THE ASSOCIATED PRESS
The Associated Press
Posted: Apr. 17, 2017 4:56 pm

Stocks are closing broadly higher on Wall Street, giving the market its biggest gain in six weeks.

 

Banks posted some of the biggest gains Monday. Wells Fargo jumped 2.7 percent.

 

Among consumer-focused stocks, Amazon.com gained 2 percent.

 

Medical device maker Alere soared 16 percent after it agreed to new terms for a sale to Abbott Laboratories.

 

The Standard & Poor's 500 index gained 20 points, or 0.9 percent, to 2,349.

 

The Dow Jones industrial average rose 183 points, or 0.9 percent, to 20,636. The Nasdaq composite increased 51 points, or 0.9 percent, to 5,856.

 

Small-company stocks rose more than the rest of the market. The Russell 2000 climbed 15 points, or 1.2 percent, to 1,361.

 

Bond prices slipped. The yield on the 10-year Treasury note rose to 2.25 percent.

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