'Santa Claus' rally sends stocks on sleigh ride

Dubbed the ‘Santa Claus’ rally, the Dow Jones Industrial Average and Standard & Poor’s 500 achieved new records Monday, while the Nasdaq hit a 13-year high.

According to CNNMoney, several factors drove the gains, including comments from the head of the International Monetary Fund. IMF’s Christine Lagarde said her organization was much more upbeat about the U.S. economic recovery heading into 2014, in part, because Congress had passed a budget and the Federal Reserve’s decision to reduce its stimulus based on an improving job market.

News of Apple Inc.’s (Nasdaq: AAPL) newly inked deal with China Mobile, which boasts more than 700 million subscribers, also is helping to boost U.S. stocks, according to CNNMoney.

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