Stocks Rise As Consumers Boost Spending

By: AP
By: AP

Stocks are rising after a report that consumers boosted spending last month even though income was essentially flat.

A few minutes after the opening bell, the Dow Jones industrial average is up 49 points at 13,194. The Standard & Poor's 500 index is up almost 6 points at 1,409. The Nasdaq composite has risen 15 points to 3,110.

Friday is the last trading day of the quarter. So far, both the Dow and the S&P 500 have had their best first quarters since 1998.

Stocks in Europe rose, too. Spain unveiled a plan to cut spending and raise taxes on large companies in an effort to reduce its budget deficit.

Asian markets fell after some poor factory production numbers from Japan.

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