The stock market rose on Wednesday as investors were encouraged by a surge in auto sales in August and other signs of strength in the economy.
Shares of General Motors, Ford Motor and Toyota Motor rose after the auto industry reported its best month in six years.
“Car sales were really impressive,” said Peter Cardillo, chief market economist at Rockwell Global Capital, noting that they point to solid consumer spending and increased manufacturing. “It means the economy is holding up,” he said.
Source
The New York Times