Stocks rally on positive economic data

June 1, 2009 1:23:48 PM PDT
The stock market started June with a rally thanks to more benign economic data.

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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 percent, at 8,721.44. The Standard & Poor's 500 index is up 23.73, or 2.6 percent, at 942.87. The Nasdaq composite index is up 54.35, or 3.1 percent, at 1,828.68.

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