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Evidence of strengthening economy pushes stocks higher

6:05 AM, Apr 3, 2013   |    comments
A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
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NEW YORK (AP) - The Dow will start trading today from a new record close.

Fresh evidence of a strengthening economy helped push the bluechip index to an 89 point gain Tuesday, closing at 14,662. The Dow broke through an all-time record on March 5 and has risen steadily since then, routinely setting new trading highs.

The S&P 500 index rose 8 points to 1,570 and came within two points of its all-time high during the session.

Reports on auto sales and factory orders provided the latest evidence that the U.S. economy is strengthening, while traders plowed money back into European stocks as the financial situation in Cyprus appeared to stabilize.

Health insurers powered the gains on Wall Street, a day after the government released revised reimbursement rates for Medicare Advantage plans. The new numbers suggest that funding cuts will be less severe than analysts and companies had feared.

 

 

 

 

 

 

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