Market begins 2nd quarter higher

NEW YORK (AP) — Wall Street began the second quarter on solid footing Wednesday as better-than-expected economic reports helped extend a four-week rally.

After falling in the early going on disappointing jobs data, the Dow Jones industrials ended with a gain of 153 points after reports showing a rebound in pending home sales and improving manufacturing activity. Other major indexes rose about 1.5 percent.

Financial stocks led the market higher, followed by big gains in technology and energy shares. As sentiment about the economy improves, investors have been buying up industries they believe are likely to lead the country out of recession.

The Dow charged ahead in March, rising 16 percent off of 12-year lows hit early in the month, but its movements over the first three months of the year have been among the most tumultuous on record.

Only three other times in the Dow’s history has it experienced 20 percent swings in both directions in one quarter.