Stocks started Q2 with a surge, wiping out 40% of the decline from Q1. Not bad! Dow was up 393, advancers ahead of decliners 5-1 & NAZ up 47. Financials led the way, many up 5-10%. The markets were buying the idea that the financial crisis is over. The good news on the economic front was the Institute for Supply Management reported its March index of national manufacturing activity rose to a reading of 48.6 -- indicating a contraction, but a slower one than in Feb. This reading was better than forecasts by analysts helping bring out buyers. However, below 50 is considered bearish but "less bad" carried the day.
Back to economic news, automakers reported March auto sales were down. Let's see what tomorrow brings in the markets.
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