They call it “Stormy Monday…”
…but not today! 
Today was a financial “shot in the arm.” I thought that I would help spread the good news, to keep this blog tilted to the “positive side.”
A report on pending home sales pushed the Nasdaq to a 6-month high. The Dow and S&P 500 climbed to almost 4-month highs. Economists thought that the pending home sales index for March from the National Association of Realtors would hold steady, but instead, it JUMPED 3.2% from February!
Stocks have been climbing since bottoming on March 9, with investors bettng that the worst is over for the economy.
Yet another report showed that spending on construction rose 0.3% instead of the forecasted decline of 1.6%! (Spending fell 1% in February.)
In April, the S&P 500 climbed 9.4%, the Dow gained 7.3%, and the Nasdaq rocketed 12.3%. The S&P 500 and Dow have gained for seven of the last eight weeks, and the Nasdaq has gained eight weeks in a row!
For more good financial news, see the CNN report.
-Bill at Cheshire Cat Photo™
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