Dow Jumps 556 Points to One-Month High as Investors Rotate Into Blue Chips

The Dow Jones Industrial Average gained 556 points, or 1.08%, to close at 52,177.69, its highest level in a month. The S&P 500 rose 0.33% to 7,744.06 and the Nasdaq added 0.08%.

Defensive and value names led. Home Depot gained 3.4%, Chevron 3.1%, McDonald's 2.6%, Coca-Cola 2.3% and Walmart 2.2%. Health care was the best-performing sector, followed by consumer staples and materials.

Nvidia, Amazon and Caterpillar were among the Dow's laggards. The VIX volatility index slipped to about 16.5.