Monday, June 1, 2009
The stock market started June with a rally thanks to more benign economic data.
Monday brought better-than-expected readings on manufacturing, consumer spending and construction spending.
However not all indicators were positive. Monday also brought a bankruptcy filing by General Motors Corp., the fourth-largest in U.S. history. And a trend that ruffled investors last week — falling Treasurys and surging yields — resumed on Monday, but was shrugged off.
According to preliminary calculations, the Dow is up 221.11, or 2.6%, at 8,721.44. The Standard & Poor's 500 index is up 23.73, or 2.6%, at 942.87. The Nasdaq composite index is up 54.35, or 3.1%, at 1,828.68.