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On the global face: US mkts rally on optimistic economic news; Dow up 152 pts and Asia trading higher; Hang Seng, Nikkei up 3%.
The US markets closed higher after a weak start as some mildly optimistic economic news helped the Wall Street to begin the second quarter on a positive note. Banks pushed the averages higher on news that Wall Street is prepared for changes in the controversial mark-to-market accounting rules, which is likely to be approved on Thursday. The Dow gained 152.68 points, or 2%, to 7,761.60. The S&P 500 index added 13.21 points, or 1.7%, to 811.08, and the NASDAQ composite index rose 23.01 points, or 1.5, to 1,551.60.
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