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Stock Indexes Run Up At Gallop
1Buoyed by a host of positive economic data, the three major indexes didn't look back. The Dow Jones industrials added 2.6%, the S&P 500 2.3%. NYSE volume expanded, marking a follow-through day for both indexes. The Nasdaq scored the biggest gain at 4.1%. Chips saw some of the heaviest upside action amid hope the industry is starting recovery. More on B2
ISM Factory Index Soared In Feb.
2The Institute for Supply Management's factory index -- formerly the NAPM -- leapt to 54.7 in Feb. from Jan.'s 49.9, the first reading above the boom-bust 50 level in 19 months. All production subindexes rose, as did employment. Prices paid and inventories fell. It was all good news. The factory recession likely is ending. More on this page
Income, Spending Gained In Jan.
3Personal spending rose 0.4% -- more encouraging data. Income also rose 0.4%, although most of that was linked to tax cuts and insurance payments. Wages were about flat overall, and 0.2% lower in the private sector. Year over year, income rose 2.5%, the lowest in decades. Spending rose 3.4%, the lowest in 10 years, except the brief post-Sept. 11 plunge. See Vital Signs on A2
U.S. Auto Sales Top Expectations