Two news stories Toni will HATE
by Josh K - 5/1/12 3:54 PM
Dow closes at a 4-year high
NEW YORK (CNNMoney) -- U.S. stocks moved solidly higher Tuesday as investors welcomed a rise in U.S. manufacturing activity and a mixed batch of corporate earnings
The Dow Jones industrial average (INDU) rose 66 points, or 0.5%, to close at 13,279.40, the highest since December 2007.
The S&P 500 (SPX) added 8 points, or 0.6%, and is just a handful of points shy of a 2012 high. The tech-heavy Nasdaq (COMP) increased 4 points, or 0.1%.
The day's gains were broad, with more than 70% of the Dow's 30 components ending in positive territory.
Countering signs that the U.S. economic recovery may be slowing, investors were encouraged by a report that showed manufacturing activity grew last month at the fastest pace since June 2011.
U.S. auto sales continue at strong pace
NEW YORK (CNNMoney) -- U.S. auto sales are still in the fast lane.
Automakers released April sales figures Thursday, which came in mostly ahead of expectations and prompted further optimism about the industry's outlook in the months to come.
The encouraging April figures come on the heels of the best quarter for auto sales in the United States since the first three months of 2008, before gas prices spiked and the financial crisis hit its peak.
"The first-quarter strength in new vehicle sales was not a blip or an accident -- we're seeing stable growth in new vehicle sales," said Jesse Toprak, an analyst with sales tracker TrueCar.
Industrywide U.S. sales rose 9% versus April 2011, according to sales tracker Autodata, which puts the annual pace of sales at 14.4 million vehicles when adjusted for seasonal factors.
Overall for 2012, TrueCar projects 14.5 million sales in the U.S., up from 12.8 million last year.
OK, hang on folks, here comes the spin....