As the Dow Jones industrial average flirts with setting a record, triple-digit swings have returned to the market. The index has notched eight moves of 100 points or greater this year, and five have come over the past two weeks.
Investors have balanced worrisome news about political gridlock in Italy with improving corporate earnings and further signs that the housing recovery remains on track.
All told, the Dow has risen 0.8 percent over the last two weeks and is up 7.5 percent year-to-date. The Dow is just 75 points below its record high of 14,164 set in October 2007.
The broader Standard & Poor’s 500 index is up 6.5 percent this year. Friday’s close is 3 percent below its record close of 1,565, also set in October 2007.Associated Press