US stocks rose for the fifth consecutive day on Monday. The S&P 500 rose 0.4 percent to complete a five-day advance, its longest rising streak since October, of 3.1 percent.
US stocks rose amid positive economic data on Monday.
The Chicago Federal Reserve's national activity index fell to +0.20 in March from +0.53 in February. However, the three-month moving average rose to 0.00 from -0.14.
The outlook for the US economy is also positive. The Conference Board reported on Monday that its US index of leading indicators rose 0.8 percent in March, the most since November, after rising 0.5 percent in February.
Monday also brought possibly good news for the US economy for the longer term.
A study by Bruno Albuquerque, Ursel Baumann and Georgi Krustev, economists at the European Central Bank, concluded that household develeraging in the US, which had held back the economy's recovery, “appears to be broadly completed as of the end of 2013”.
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