Markets Rise on Economic News
03/01/2006
Economic news released today
caused investors to strongly bid up the price of stocks. The
Nasdaq Composite surged 1.46% while the S&P 500 rose 0.83%.
Advancing issues led decliners by more than 2 to 1 on the
New York Stock Exchange.
One report that pleased investors
came from the Institute for Supply Management (ISM). The ISM
reported that manufacturing expansion in February grew more
than expected, making it the 33rd consecutive month with growth
in manufacturing activity.
The Commerce Department also
released a report today that boosted the markets. The report
showed that personal spending surged 0.9% in January, the
largest increase in six months. Income rose 0.7%, the largest
gain since September.
-Rex M. Jacobsen
Sr. Editor
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