Dow, S&P Hit Record Highs

U.S. stocks climbed on Monday, with the Dow and S&P 500 advancing to all-time highs as consumer-
spending data reinforced perceptions that the U.S. economic recovery is poised to accelerate in
2014. The Dow Jones Industrial Average advanced 73.47 points, or 0.45%, to 16,294.61. The S&P
500 closed 9.67 points, or 0.53%, to 1,827.99. The Nasdaq Composite jumped 44.16 points, or
1.08%, to 4,148.90,

Consumer sentiment hit a five-month high heading into the end of the year and spending notched
its strongest month since the summer. Consumer spending rose 0.5 percent after gaining 0.4
percent in October, the Commerce Department said on Monday.

Two of the Federal Reserve’s most outspoken policy hawks voiced support on Monday for the U.S.
central bank’s decision to start scaling back its bond-buying program, though one argued for
bolder action.

More than 1 million visitors logged into HealthCare.gov by late Monday, racing to meet the
administration’s new midnight, Christmas Eve deadline to enroll in health insurance.