Wall Street rose modestly on Monday, lifting the Dow to another record and giving the S&P 500 its seventh straight advance as early weakness enticed buyers. The gains briefly lifted the benchmark S&P 500 index to its highest intraday level since October 2007.
The past 36 hours should have been a moment of unbridled celebration for cheerleaders of American capitalism, as the Dow Jones Industrial Average had two successive record-breaking closes, and Hugo Chávez died after a two-year illness.
Stocks are closing sharply higher for a second day as evidence mounts that the housing market is making a comeback. The Dow Jones industrial average jumped 175 points to 14,075, its highest close of the year. It's up nearly 300 points over the past two days, putting it within 100 points of its record high reached in October 2007.