Hint of recovery pushes stocks higher
02-04-2009
As leaders of rich and emerging nations gathered in London for crisis talks, the global economy showed more signs of weakness, but there were also hints of hope, helping to push stock markets higher this morning.
Data from purchasing managers' indexes showed US, euro zone and British manufacturing inched away from February's lows but remained in negative territory.
An index of pending US home sales rose more than expected, and America's auto sales, while weak, were not as dismal as expected.
The Dow Jones Industrial average closed 2 percent higher at 7,761. London's 100-share index gained 0.75 percent, while the Frankfurt DAX and Paris CAC-40 both climbed over 1 percent.
