Resilience Is the Key As Stocks Gain Anew
Stocks extended their winning streak to three sessions as investors appeared to become more confident that the market could withstand a scaling back of easing efforts by the Federal Reserve.</br></br>The Dow Jones Industrial Average advanced 88.85 points, or 0.6%, to 15224.69. On Friday, the Dow rose 147 points after a better-than-expected June jobs report.</br></br>The Standard & Poor's 500-stock index rose 8.57 points, or 0.5%, to 1640.46. Eight of the index's 10 sectors advanced. The technology-oriented Nasdaq Composite Index gained 5.45 points, or 0.2%, to 3484.83.</br></br>Monday's gains came in the wake of a stronger-than-expected employment report Friday, which many in the market believe makes it more likely that the Fed will scale back its easing efforts later this year.</br></br>While stocks have struggled in recent weeks as investors wrestled with the possibility that the Fed might cut back on its support for the U.S. economy, the resilience of stocks following the jobs report suggests the market may have turned a corner, some said.