As consumers gain confidence, Wall Street goes for the ride
Associated Press
NEW YORK — Consumers are getting more confident about the economy, and Wall Street is tagging along.
Stocks surged yesterday, posting their first big win in a week after a research group said consumer sentiment rose in May to the highest level since September. Major stock indicators jumped more than 2 percent, including the Dow Jones industrial average.
The day's gains nudged the Standard & Poor's 500 index back into the plus column for the year and leaves the Nasdaq composite index up 11 percent in 2009. The Dow is still down 3.5 percent.
