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Improved economic data, consumer confidence and lending criteria, along with the effect of government homebuyer and funding schemes have all had an effect.
"While a short squeeze has influenced some names, we think the improved economic data has been the more important driver for the majority of stocks.
Analysts said the rally occurred despite the relative absence of improved economic data, meaning investors had probably adjusted their expectations.
Some economists say, nevertheless, that the improved economic data will still take some time to translate into the creation of more jobs.
Jackie Calmes reports that advisers to President Obama, drawing on a string of improved economic data, have updated their forecasts in recent days and now project that the economy will create two million jobs this year, reducing the unemployment rate to about 8 percent by year's end.
WASHINGTON — Drawing on a string of improved economic data, advisers to President Obama have updated their forecasts in recent days and now project that the economy will create two million jobs this year if stimulus measures are extended, which could reduce the unemployment rate to about 8 percent by year's end.
Similar(50)
The surprisingly successful auctions owe little to improving economic data around the region.
Equity gains this year have been part of a general trend of solid corporate balance sheets and improving economic data.
THE recovery story is in full swing, with stockmarkets continuing to move higher on the back of improving economic data.
Investors have been betting on this, but improving economic data could dissuade the Fed from more action.
On the one hand, improving economic data have taken some of the sting out of Republicans' chief criticism of the president.
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