U.S. stocks closed more than 1 percent higher on Monday amid encouraging talk of stimulus in Asia, as investors eyed the week’s economic data.
“This would be the first back-to-back positive close we’ve had this month,” said Art Hogan, chief market strategist at Wunderlich Securities ahead of the close. “That is remarkable in it of itself.”
Hogan made his remarks after the Dow Jones industrial average opened more than 150 points up following positive economic data. “We got a coil spring effect, and often times that doesn’t hold,” he said.
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