The Philadelphia Fed's manufacturing gauge rose to 9.0 for March, a strong reversal from last month's negative 6.3. A strong quarter from Lennar Homes and positive comments about new orders for the spring also encouraged buyers to enter the picture. Ben Willis from Albert Fried says the U.S. market was 'the cleanest shirt in the closet.' He believes the U.S. economy is leading the rest of the world in a recovery from the global financial crisis.

Disclosure: TheStreet's editorial policy prohibits staff editors, reporters and analysts from holding positions in any individual stocks.

More from Video

Video: nLight Shares Surge Following Nasdaq Debut

Video: nLight Shares Surge Following Nasdaq Debut

Too Bearish Too Soon? Your Reality Check from Real Money's Helene Meisler

Too Bearish Too Soon? Your Reality Check from Real Money's Helene Meisler

Jim Cramer: Visa Is a Technology Company That Masquerades as a Financial Company

Jim Cramer: Visa Is a Technology Company That Masquerades as a Financial Company

Jim Cramer: Chipotle Shares Are Probably Done Going Down

Jim Cramer: Chipotle Shares Are Probably Done Going Down

Jim Cramer: This Is a Sad Time for Southwest Airlines

Jim Cramer: This Is a Sad Time for Southwest Airlines