*U.S. investors took their cues from overseas markets,

*Asia ikut IHSG yg naik > 4%.
Eropa ikut Asia. DJI ikut Asia+Eropa ...

2 thumbs buat bozz Jkt

NEW YORK (AP) -- Stocks are starting June with a gain, as upbeat data on
overseas manufacturing and U.S. consumer spending added to hopes for a
global economic recovery.
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The Dow Jones industrial average rose about 140 points, or 1.7 percent, in
early trading Monday. The other major indexes also advanced by more than 1
percent.
*
U.S. investors took their cues from overseas markets*, which surged
following surveys in Europe and Asia showing that manufacturing is healing.
Investors are awaiting a similar survey on U.S. manufacturing later Monday
morning, as well as a report on U.S. construction spending.

Meanwhile, the U.S. government reported a smaller-than-expected dip in
consumer spending in April. The Commerce Department said consumers trimmed
their spending by 0.1 percent, slightly less than the 0.2 percent reduction
forecast by economists. Personal incomes was also better than anticipated,
coming in flat instead of negative.

Wall Street's gains came despite General Motors Corp.'s filing for
bankruptcy protection.

The highly anticipated move will give the government a 60 percent stake in
the ailing automaker. The government is expected to provide GM with an
additional $30 billion, on top of $20 billion in government loans GM has
already received, to help it restructure. Meanwhile, rival Chrysler LLC,
which filed for Chapter 11 protection in April, is expected to emerge from
bankruptcy protection this week.

"It's remarkable the degree of resilience that the equity markets have
shown," said Jack A. Ablin, chief investment officer at Harris Private Bank,
referring to the market's ability to look past the GM bankruptcy and other
major market disruptions. "We've had plant closings, we've had dealer
shutdowns. I think the reverberations have already been felt."

The Dow Jones industrial average said Monday it is dropping GM as a
component after the automaker filed for bankruptcy, as well as Citigroup, of
which the government now owns a significant stake. GM and Citi will be
replaced with Travelers Cos. and Cisco Systems Inc. next week, Dow said.

In early trading, the Dow rose 147.75, or 1.7 percent, to 8,648.08. The
Standard & Poor's 500 index rose 17.83, or 1.9 percent, to 936.97. The
Nasdaq composite index rose 35.97, or 2 percent, to 1,810.30.

Overseas, Japan's Nikkei stock average jumped 1.6 percent, while Hong Kong's
Hang Seng index soared 4.0 percent. In Europe, Britain's FTSE 100 rose 1.3
percent by afternoon trading, while Germany's DAX index rose 3.1 percent and
France's CAC-40 gained 2.2 percent.

There also are a handful of technical factors that could affect the market
Monday.

The first trading day of the month often brings with it a surge of new money
from mutual funds. Also, the S&P broke through its 200-day moving average of
928, which also likely bought on buying.

Stocks have wavered in the past few weeks as investors question the
sustainability of the market's stunning three-month advance. Since March 9,
the Dow is up 29.8 percent, the S&P 500 index is up 35.9 percent and the
Nasdaq is higher by 39.9 percent. The gains have been fueled in large part
by data showing a moderation in the economy's slide.

On Friday, Wall Street secured the third month of its spring rally with all
the major indexes rising at least 1.2 percent on a mix of economic data and
soaring commodity prices. Despite the recent gains, the market is still well
off its October 2007 peak. The recession has cut into the Dow by 40 percent
since then.

Investors are well aware that the stock market tends to turn around before
the economy does. But analysts have warned that the market's surge may have
been too big too quick and that some pullback is necessary for a healthy
march higher.

New worries have also begun to seep into the market, including a sinking
dollar and climbing interest rates. Investors fear such developments could
threaten the economy's recovery.

Government bonds fell again early Monday, pushing yields higher. The yield
on the 10-year Treasury note, which is used as a benchmark for home
mortgages and other consumer loans, rose to 3.60 percent from 3.46 percent
late Friday.

The dollar also weakened further against the euro and the British pound,
while commodities like gold and oil extended recent gains.

The Russell 2000 index of smaller companies rose 13.60, or 2.7 percent, to
515.18.

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