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PHEW Stocks Open Up After Irene Jin Lee / AP Photo

Stocks Open Up After Irene

The first day of trading after Hurricane Irene brought a sharp surge to U.S. stocks, as relieved investors sent the Dow Jones rising 1.5 percent after the opening bell. Aside from the lighter-than-expected storm, traders were also encouraged by new economic data that showed Americans boosted their spending July by a higher amount than forecast. A slew of economic data is expected today and this week, building up to Friday’s unemployment report, which is expected to show the jobless rate sticking at 9.1 percent.

August 29, 2011 10:00 AM