Stocks Opened Higher after Consumer Report

U.S. stocks opened higher on Monday, after government data showed consumers increased spending last month, signaling  more optimism the economy is recovering. The Dow Jones Industrial Averagelately added 25.99 points, or 0.18%, to  14,738.54. The S&P 500 index climbed 4.42 points, or 0.28%, to 1,586.66. The Nasdaq Composite added 17.10 points, or  0.52%, to 3,296.36.

Americans kept increasing their spending in March and their income grew, further indication that consumers are  shaking off higher taxes. The Commerce Department said Monday that consumer spending rose 0.2 percent in March from  February. That followed a 0.7 percent jump in February and a 0.3 percent gain in January.

Federal Reserve officials are likely to continue their easy-money policies at the central bank’s policy meeting on  Tuesday and Wednesday, in part because several recent inflation measures have fallen well below the Fed’s 2% target.

J.C. Penney Co Inc (JCP.N) on Monday said Goldman Sachs Group Inc (GS.N) will provide it with a five-year, $1.75  billion financing package, the latest move by the retailer to shore up its finances.

Nissan Motor Co Ltd is recalling more than 123,000 Altima sedans in the United States to adjust the inflation of the  spare tires, which could be over- or under-inflated.

Sprint Nextel Corp (S.N) on Monday said its merger partner SoftBank Corp (9984.T) has waived some terms of their  agreement so that Sprint can seek more information from potential suitor Dish Network Corp (DISH.O).

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