Nasdaq ends at 14-year high as global tensions are seen receding

|By:, SA News Editor

Stocks surged, with the Dow up 175 points and the Nasdaq reaching a 14-year high, on the back of increasing homebuilder confidence and hopes for receding tensions between Russia and Ukraine.

Also driving some of the gains was Dollar General's $8.95B counterbid for Family Dollar, which topped an offer made three weeks ago by Dollar Tree and marked the latest potential tie-up in a year that has seen a pickup in corporate deal-making.

"With the momentum built up over the last week, conversations are likely to turn towards when, not if, it can tackle the 17,000 level again,” IG analyst Alastair McCaig says.

Participation continued on the low side, with fewer than 600M shares changing hands at the NYSE.

In addition to boosting equities, today's events weighed on safe-haven assets, as benchmark the 10-year note spent the day in a steady retreat and pushing its yield up 5 bps to 2.39%.