Some Good News Sends Stocks Soaring

From AP -

Investors were encouraged after U.S. car sales jumped by nearly 25 percent last month from February, beating the typical rise and underpinning hopes of a turnaround in the American auto market - critical for Asia's giant auto companies.

(AP) Graphic shows percentage change for major marketplaces. Full Image

A rebound in pending U.S. home sales in February from a record low, as well as improving manufacturing activity, added to a growing belief the most severe global downturn in decades may be moving close to a bottom.

Still, the upbeat evidence distracted investors from more sobering news the U.S. private sector continued to shed hundreds of thousands of jobs last month - a worrisome sign as investors brace for Friday's report on nationwide job cuts. Meanwhile, there were signs of widening divisions between major nations at the G-20 meeting.