Dow ends up, still negative for 2014
Stocks moved higher Monday, easing fears -- for now, at least -- that a correction may be around the corner.
The Dow Jones industrial average ended up 0.1% -- and has slid back into negative territory for 2014. It moved above that threshold in earlier trading.
It ended about 7 points below its close at the end of 2013.
The S&P 500 closed 0.3% higher and the Nasdaq composite climbed 0.7%.
Despite a few weeks of weakness and volatility, the Dow and S&P 500 have yet to fall through Wall Street's version of a floor. And that could signal a market bounce might be forthcoming.
Last week, the benchmark Standard & Poor's 500-stock index took a tiny step below its average price over the past 50 days — a level that has served as both a floor to stop falling prices in recent market drops and a launching-off point for a rebound rally.
Despite a late-day rebound Friday that allowed the large-company stock index to eke out a 0.3% gain for the week — following its worst weekly rout in two years — the index still ended the week at 1931.59, below its so-called "50-day moving average" of 1955.33, through Friday's close.
The S&P 500 ended at 1936.92.
Asian markets posted strong gains as Japan's Nikkei 225 jumped 352.15 points, or 2.38%, to 15,130.52 and Hong Kong's Hang Seng rose 314.61 points, or 1.29%, to 24,633.30. The Shanghai Composite gained 30.23 points, or 1.38%, to 2,224.65.
European benchmarks ended significantly higher, with Britain's FTSE 100 up 1%, Germany's DAX gaining 1.9% and France's CAC-40 climbing 1.2%.