Dow Soars 259 After Irma Is Less Than Feared

Relieved investors send stock prices solidly higher on Wall Street Monday, pushing the Standard & Poor's 500 index to another record high. The S&P 500 rose 26 points, or 1.1%, to 2,488. The Dow Jones industrial average also had a strong day, rising 259 points, or 1.2%, to 22,057, reports the AP. The Nasdaq increased 72 points, or 1.1%, to 6,432. Insurers and travel-related companies posted big gains on Monday after Hurricane Irma appeared to be less destructive than many had feared. Cruise operator Carnival and Chubb each gained 3.6%. Home improvement companies, which rallied last week, fell as investors anticipated less demand for repairs. Lowe's dropped 1.3%. Apple rose 1.8% a day ahead of its latest iPhone launch. (More stock market stories.)