Markets finished in the black yesterday following a strong day of trading internationally. The NASDAQ led the way jumping 1.58 percent (35.31 points) by the closing bell; the S&P 500 followed suit with a 1.02 percent (11.22 points) gain of its own. The Dow Jones Industrial Average lagged a bit further behind (0.76 percent, 78.53 points) but in general Wall Street ended a good day with a fine finish.

Monday’s rally continued after the opening bell today. The gains made on Monday pushed the NASDAQ and S&P 500 into positive territory for the year, and the Dow Jones is now within 300 points of its 52-week high.

According to Bloomberg, much of the rally can be explained by numbers revealing positive expansion of the Indian economy, as well as a slight surge in oil market prices.

In other news, according to CNNMoney.com, in-fighting within the United States Senate over unemployment benefits has hit a fever pitch. Several Senate Republicans are holding up a Democratic initiative that includes unemployment extensions for those currently subsiding from the federal register.

Democrats filled the proposed legislations with extra tax credits and tax break extensions in an effort to build support after Kentucky Senator Jim Bunning blocked a provision to lengthen unemployment benefits just last week. The move by Bunning resulted in nearly one million Americans losing their unemployment insurance.

Finally, following a massive and infamous recall by Toyota as a result of nearly a decade of brake-accelerator failures, General Motors has announced a recall of its own.

According to CNNMoney.com, GM is recalling 1.3 million Pontiac and Chevrolet models due to a potentially faulty power steering mechanism.

This loss of steering has resulted in 14 crashes and one injury. While the scope of the recall compares slightly to the Toyota recall in February, the severity of the problem has thus far been nowhere near as catastrophic. Toyota covered up nearly a decade of fatal defects in its vehicles in order to save money. By contrast, General Motors’ decision is very proactive and may indicate that the company hopes to use its rival’s recent missteps as an opportunity to recapture trust in the American market.

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