Stocks up at opening following consumer spending news
Stocks are up following a government report this morning that consumer spending inched up in February.
In the first 20 minutes of trading, the Dow is up half of 1 percent.
The broader S&P 500 is a little more than half of 1 percent and the tech-heavy Nasdaq is up six-tenths of 1 percent.
February consumer spending increased 0.3 percent in February, following a 0.4 percent increase in January. That's better news than a retreat in consumer spending, but it's not enough to turbo-charge the recovery. Consumer spending makes up about 70 percent of U.S. GDP.
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By
Frank Ahrens
|
March 29, 2010; 9:48 AM ET
Categories:
Treasury
| Tags: Dow Jones, nasdaq, s&p 500
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