The Nasdaq hit highs not seen since 2000, with technology stocks among the day's best performers. The S&P 500 settled above the March 2011 peak, signalling the rally may have legs.
Daily volume on the New York Stock Exchange, NYSE Amex and Nasdaq has averaged less than 7 billion shares so far in February. The average in February 2011 was 7.81 billion.
The Dow Jones industrial average settled up 23.61 points, or 0.18 percent, at 13,005.12. The Standard & Poor's 500 Index was up 4.59 points, or 0.34 percent, at 1,372.18. The Nasdaq Composite Index was up 20.60 points, or 0.69 percent, at 2,986.76.
Oil prices suffered their sharpest one-day loss in 2-1/2 months. After Monday's 1 percent drop, which snapped a week-long rally, London's Brent crude fell 2 percent -- the most in a session since Dec. 14.
Despite the correction, Brent is still up 13 percent on the year. U.S. crude is up 8 percent year-to-date after a rally through most of February, fed by tensions over Iran's nuclear program and other supply-related issues in the Middle East.For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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