Wall Street closes higher on economic data

NEW YORK (AA) – Wall Street ended Tuesday with gains after strong macroeconomic data was released.

Consumer confidence was up 2.3 points in September to 104.1, according to non-profit research group, the Conference Board.

That not only beat market estimates of a decline to 99.0 points, but it reached its highest level since the summer of 2007.

With hopes that consumer spending would rise in the coming months, investors gained more confidence in the economy and took a buying position on the stock market.

The Dow gained 133 points to finish at 18,228 points. The S&P 500 added 13 points to close at 1,159 and the Nasdaq was up 48 points to end the day at 5,305.