The S&P 500 rose 0.8 percent to 1,419.04 at 4 p.m. New York time. The index on March 30 completed its biggest first-quarter rally since 1998.
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“The manufacturing data continue to show signs of improvement. It supports our modest pro- cyclical position.” Equities gained as manufacturing in the U.S. expanded at a faster pace than forecast in March, a sign that the industry is weathering slower global growth.
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Investors snapped up shares of companies most tied to the economy.
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The S&P’s first-quarter rally sent U.S. stocks above gold by the most in more than a decade, a sign of growing investor confidence in corporate profits as analysts raise earnings estimates for the first time this year.
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“The problem with gold now is that people are starting to accept the economy recovery,” Birinyi, president of Westport, Connecticut-based Birinyi Associates Inc., said in a March 29 phone interview.
That pinko-commie-socialist-free-enterprise-hater Obamahas totally wrecked the US Economy!!! Just look how he's ruined the stock market since George W. Bush left office ...
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