Dow jumps 350 to start week, S&P 500 inches closer to all-time high

(CNBC) — The Dow Jones Industrial Average rallied on Monday as gains in economically sensitive stocks offset losses from mega-cap tech stocks like Microsoft.

The 30-stock Dow advanced 350 points, or more than 1.2%. Boeing and Nike were among the best-performing stocks in the Dow, rising more than 4% each. Caterpillar, considered to be a bellwether for the global economy, climbed more than 5% as well. JPMorgan Chase also contributed to the Dow’s gains, rising 1%.

Meanwhile, the S&P 500 climbed 0.25% as the energy and industrials sectors rose more than 2.4% each as econonimcally sensitive stocks led the major indexes higher on the week’s first day of trading. The early-week gains left the S&P 500 just 1.06% below its record high.

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