The broad markets extended their rally yet again today, with all three of the major market indexes producing solid gains during the trading day. The Dow Jones Industrial Average (INDEX: ^DJI) gained the least, rising 58.6 points on the day, which was a still-respectable 0.44% jump. The Dow has now tallied seven consecutive gains and risen 8.5% thus far in 2012. It now sits at its highest point of the year. The tech-heavy NASDAQ rose 5.1%, to 3,056, and the S&P 500 rose 0.6% percent, closing at 1,402. Today marks the first time the S&P closed above the 1,400 barrier in almost four years. Every sector in the market turned in positive performances, with conglomerates, financials, and transportation all posting gains above 1%.

Several Dow stocks posted strong individual performances as well. Bank of America (NYSE: BAC) and JP Morgan Chase (NYSE: JPM) posted impressive gains, popping 4.5% and 2.6%, respectively. General enthusiasm about the recent positive banking stress tests has sent these stocks on an absolute tear this week, adding to their already-impressive appreciation since the start of 2012. After dreadful performances last year, the two stocks are up 66.2% and 33.4% so far this year.

Elsewhere on the Dow, industrial stalwart General Electric (NYSE: GE) gained 1.9%. GE deepened its push into the energy sector, announcing its purchase a 30.6% stake in Howard Energy Partners for an undisclosed amount. Howard plans to use the additional capital to double the size of its 280-mile pipeline near Texas' Eagle Ford shale area. Such investments epitomize GE's strategic shift moving out of the financial crisis to re-center its business increasingly around energy and infrastructure dominance, and to reduce the scope of its financial services arm, GE Capital.

On the flip side, networking juggernaut Cisco Systems (Nasdaq: CSCO) ended the day firmly in the red as the market reacted negatively to its announced acquisition of video software firm NDS Group for a whopping $5 billion dollars. The stock fell 1.4% in reaction to the acquisition news.

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