This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Stock Market Today: Bulls Take Control, Giving Fence Sitters an Expensive Lesson

Stock quotes in this article: ^DJI, ^GSPC, ^IXIC, IBM, DG, FDO, DLTR

NEW YORK (TheStreet) -- Those who've been waiting for the next pullback to get invested learned another expensive lesson on Monday.

The bulls took almost full control of the market on strong economic news, surging M&A deals and a slight ebbing of Ukraine worries.

The number of stocks that rose with the market far exceeded the number of declining stocks by a ratio of about three-to-one on both the New York Stock Exchange and the Nasdaq -- 172 issues made new 52-week highs vs. 17 creating new 52-week lows. The tech-heavy Nasdaq hit a 14-year high on Monday as this economically sensitive sector gained 1.06%.

Read More: Warren Buffett's Top 10 Dividend Stocks

"The animal spirits are moving this market forward and the biggest risk is missing the abounding opportunities," said Doug Cote, chief market strategist at Voya Investment Management.

The Dow Jones Industrial Average powered ahead by 1.06% to 16,838.74. The S&P 500 jumped 0.85% to 1,971.74. The Nasdaq surged 0.97% to 4,508.31. U.S. stocks edged off their session lows by the final hour of trading Friday to close the week higher.

Sound economic fundamentals continued to be in play on Monday after the NAHB Housing Market Index for August rose to 55, the highest reading since January.

Read More: 7 Stocks Warren Buffett Is Selling in 2014

Ceasefire hopes were raised Monday after Russia said its foreign minister had reached an agreement with Ukraine representatives in Berlin over the weekend. The agreement allows Moscow's controversial humanitarian aid convoy to travel into rebel-held territory. The White House said it has not been able to confirm the reports from Friday that Ukrainian troops partially destroyed a Russian military convoy.

In deal news, Dollar General (DG) offered to buy Family Dollar (FDO) for $9.7 billion, topping a bid from Dollar Tree (DLTR) . Dollar General popped 11.63% to $64.14, while Family Dollar gained 4.93% to $79.81. Dollar Tree slipped 2.42% to $54.26. U.S. M&A in the first half nearly doubled 2013's first half volume on the heels of a broadening, global expansion, according to Cote.

IBM (IBM) was up 1.06% to $189.36 following the company's announcement late Friday that it received notice from the U.S. Committee on Foreign Investment of the successful conclusion of the committee's review of the divestiture of the company's x86-based server business to Lenovo Group (LNVGY) .

Read More: Aug. 18 Premarket Briefing: 10 Things You Should Know 

--By Andrea Tse in New York

Follow @AndreaTTse

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,804.71 -238.19 -1.40%
S&P 500 1,946.16 -26.13 -1.32%
NASDAQ 4,422.0850 -71.3050 -1.59%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs