The volatile stock market surged again this morning, as the Commerce Department reported that U.S. exports rose 3.2 percent in March to their highest level since October 2008, indicating further recovery for American manufacturers.
Still, the U.S. trade deficit climbed to a 15-month high in March, as higher oil prices pushed import costs higher.
The Dow Jones Industrial Average gained more than 110 points this morning.
"There is an underlying question of whether the overall global recovery is going to be sustainable into a longer-term expansion. We think it will," Bruce McCain, chief investment strategist at Key Private Bank, told MarketWatch.com.
Local stocks in the BizTimes Stock Index partook in today's rally, led by Manpower Inc. (up $1.56 to $53.42), Rockwell Automation Inc. (up $1.54 to $61.29) and A.O. Smith Corp. (up $1.34 to $51.22). The largest local decliners this morning were Fiserv Inc. (down 20 cents to $52.12) and Douglas Dynamics Inc. (down 15 cents to $11.35).
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