Analysts at Goldman Sachs (GS) made news today by predicting that the S&P 500 will jump another 13 percent to 1,060 by the end of this year, and investors buoyed by a bondholder bailout of embattled lender CIT Group (CIT) obliged.
All 10 of the index's industry groups advanced and the Dow Jones industrial index surged back into positive territory for the year after climbing 104 points, or 1.2 percent, to close at 8,848.
Twenty-seven of the Dow's 30 component stocks rose in today's trading, led by Alcoa (AA) and Caterpillar (CAT), which gained on speculation that the world economy is on the mend. Procter & Gamble (PG), Johnson & Johnson (JNJ) and Bank of American (BAC) were the only Dow stocks to fall.
For more on stocks making moves today, check out BloggingStocks' market wrap-up.
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