The US markets kicked off the week with a bang, logging their best one-day rally since September, amid signs of progress to resolve the “fiscal cliff and following a pair of better-than-expected housing reports. The CBOE volatility index tumbled near 15, hitting a five-week low.
Dow Jones Industrial Average gained 1.65% or 207.65 points at 12795.96. Nasdaq Composite rose 2.21% or 62.94 points at 2916.07. Standard & Poor’s 500 added 1.99% or 27.01 points at 1386.89.
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