Summary Box: Increased consumer spending lifts stocks; Weaker dollar boosts energy shares
By APMonday, March 29, 2010
Summary Box: Higher consumer spending lifts stocks
UPBEAT MOOD: The Dow Jones industrials rose 46 points to an 18-month high after a gain in consumer spending and a rise in commodity prices.
CONSUMER HEALTH: The government said consumer spending rose for a fifth straight month in February. The 0.3 percent increase met expectations and bolstered a sense that the biggest driver of the economy is strengthening.
ENERGY BOOST: Easing concern about debt problems in Greece reduced demand for the dollar. The drop in the currency made dollar-based commodities like oil more affordable to foreign buyers. Energy stocks led the market.
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