(CNN) — Taking advantage of last week’s big rally, stocks closed higher on Monday and the Dow Jones index crossed the 38,000 mark for the first time in history.
The Dow Jones ended the day up 138 points, or 0.4%, at 38,001.81. For their part, the S&P 500 rose 0.2% and the Nasdaq Composite added 0.3%.
The S&P 500 also closed at an all-time high, reaching 4,850.43.
According to Capex, the year-end price target for the Dow ranges between 34,000 and 45,000.
Last Friday, the S&P 500 entered bull market territory, recovering more than 20% from its low and reaching a new record.
Elsewhere, Macy’s shares rose 3.6% after the company rejected a $5.8 billion offer from Archhouse Management and its partner Brigade Capital Management to take the company private over the weekend.
Spirit Airlines shares rose 19.5% after the company and JetBlue on Friday appealed a ruling blocking their planned merger. JetBlue shares rose 0.2%.
Shares of Archer-Daniels-Midland fell 24.2% after the company cut its profit forecast after suspending its CEO and opening an investigation into its accounting practices.
(tagstotranslate)Dow Jones