Shares of the Standard & Poor’s 500 index (SPY) closed up 1.2% Monday, the first time the index saw a move of 1% or more since Nov. 23. The closing value of 1,430.36 is the highest since Oct. 22. The S&P 500 is now up almost 14% this year.
It was good day to own homebuilders stock, with PulteGroup (PHM) and D.R. Horton (DHI) both up more than 5% today, and Lennar Corp. (LEN) closing up 4%. Shares of home improvement chain Lowe’s (LOW) were also up 4%.
General Electric (GE) is “on the verge of agreeing to a deal to buy Italian aerospace group Avio SpA for as much as $ billion,” says The Wall Street Journal. GE stock closed up 1.4% today.
And finally, here’s a list of the worst CEOs of 2012 — good stuff, though quite how Chesapeake Energy’s Aubrey McClendon isn’t #1 is beyond me.
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