“Stocks held modest gains across the board Tuesday, with the Dow and S&P 500 trading at fresh five-year highs, lifted by optimism for more corporate deals and as investors returned from the long holiday weekend.
The Dow Jones Industrial Average held gains, led by Bank of America and General Electric, after the blue-chip index logged its second-consecutive weekly decline in the previous week. The Dow is within 1 percent of its all-time closing high of 14,164.53 hit on October 9, 2007.
The S&P 500 and the Nasdaq also traded higher. The CBOE Volatility Index (VIX), widely considered the best gauge of fear in the market, traded above 12.
The Dow and the S&P 500 have both rallied 7 percent since the beginning of the year.
Most key S&P sectors were in positive territory, led by consumer staples and financials.