AP News

News Summary: Dow closes at highest of the year

NEW YORK (AP) — HIGH FOR THE YEAR: Stocks advanced Monday, pushing the Dow to its highest close of the year, after investors shrugged off concerns about Chinese growth that pushed stocks lower in early trading.

CHINA HOUSING: Chinese markets were dragged down by housing stocks, which fell sharply after the country's government ordered new measures to rein in home prices.

i-SLUMP: Apple slid 2.4 percent to $420, pushing the company's market value below $400 billion. The company's stock is trading at its lowest level in a year, and has slumped 40 percent since peaking in September on concern that sales growth for its phones and tablets will slow.

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