Consumer spending isn't exactly robust, but it was enough to encourage stocks to go higher. Chief Economist at Rockwell Global Peter Cardillo believes that it is a continuation of positive consumer trends. He thinks that as weather improves, consumers will open their wallets more. He also pointed out that many portfolio managers are trading as if this is the last day of the quarter even though it ends on Monday. They are feeling confident to make purchases.

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

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