Dow Closes Up 1300 Points After Historically Bad Week

CNBC reports:

Stocks rose sharply in volatile trading on Monday, clawing back out of correction territory and regaining a big chunk of their losses from Wall Street’s worst week since 2008.

The Dow Jones Industrial Average closed 1,293 points higher, or 5.1%. The S&P 500 and the Nasdaq Composite climbed 4.6% and 4.5%, respectively. Those gains snapped seven-day losing streaks for the Dow and S&P 500.

“The market has been conditioned to buy on any weakness,” said Keith Buchanan, portfolio manager at GLOBALT. “I think we’ll look back at these past few years at some point as some level of complacency.”