Strong spending report boosts markets
NEW YORK — Consumers are more willing to spend, and that's making investors more optimistic about the economy.
The Dow Jones industrial average rose 46 points yesterday and broader indexes also climbed after the Commerce Department said consumer spending rose for the fifth straight month in February. The 0.3 percent gain was in line with expectations and raised hopes that the biggest driver of the economy is continuing to rebound.
Job creation and solid consumer spending are considered crucial to a sustained recovery.