Stronger economic reports pull stocks higher

[TomCADem]

Source: Associated Press

NEW YORK (AP) -- Investors sent stocks soaring Monday after getting a boost of confidence from the latest economic reports and Warren Buffett's defense of Goldman Sachs.

The Dow Jones industrial average rose 143 points for its biggest gain in two and a half months. The Dow and broader indexes all climbed more than 1 percent.

The market rebounded from a drop Friday after a string of welcome news eased some of the concerns that have been dogging investors. Economic reports signaled that consumer spending and manufacturing are strengthening.

Meanwhile, Germany's approval of bailout funds for Greece and Buffett's vote of confidence in Goldman, whose shares he owns, helped reassure investors. Goldman has been under fire the past two weeks after regulators filed civil charges accusing the bank of fraudulent dealing in mortgage-backed securities.


Read more: http://finance.yahoo.com/news/Stronger-economic-reports-apf-4129565256.html?x=0

[CoffeeCat]

1. I am losing tremendous respect...

...for Warren Buffet.