The daily business briefing: March 2, 2016

Signs of U.S. strength lift global markets, automakers post huge February sales, and more

the Detroit Auto Show
(Image credit: Reuters/ Jonathan Ernst)

1. U.S. stock surge lifts global markets

Global stocks jumped early Wednesday, buoyed by a U.S. stock surge triggered on Tuesday by better-than-expected manufacturing news. Markets around the world also got a lift Tuesday thanks to China's decision to ease lending rules to free up money to make up for slowing growth. The Dow Jones Industrial Average on Tuesday jumped by 349 points, or 2.1 percent, in its best day since Jan. 29. The S&P 500 index gained 2.4 percent — its best March opening ever — and the Nasdaq soared even more, gaining 2.9 percent.

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.