Wall Street boosted by a bright outlook

US stocks gained for a fifth straight session yesterday, their longest string of gains since November, as a bright outlook from consumer product company <strong>Procter &amp; Gamble</strong> and a successful Treasury bond auction boosted investors&rsquo; confidence.<br /><br />Strong demand for the sale of 30-year Treasury bonds lifted confidence in US assets, including stocks. The S&amp;P 500 stock index rose to its highest in nearly a year.<br /><br />Procter &amp; Gamble was the Dow&rsquo;s biggest lift, climbing 4.2 per cent to $56.04 after it affirmed its earnings forecast for the current quarter and said sales would improve in the next quarter.<br /><br />&ldquo;There is no selling pressure in this market. You see more believers in the market, more bullish sentiment and people are starting to believe that this rally is real,&rdquo; said Keith W. Springer, president at Capital Financial Advisory Services.<br /><br />The S&amp;P now stands 54 per cent higher from its 12-year closing low on 9 March.<br /><br />Chip companies Texas Instruments and ASML both boosted their sales outlooks in a signal consumers are spending cash on personal technology. Semiconductor shares gained 1.8 per cent.<br /><br />The Dow Jones industrial average was up 80.26 points, or 0.84 per cent, at 9,627.48. The Standard &amp; Poor&rsquo;s 500 Index gained 10.77 points, or 1.04 per cent, at 1,044.14. The Nasdaq Composite Index was up 23.63 points, or 1.15 per cent, at 2,084.02.<br /><br />Adding to optimism was jobless claims data, which fell to its lowest since July last week, while a separate government report showed imports of foreign goods rose to a record, suggesting more strength in US consumer spending.<br /><br />But among decliners, Monsanto, the world&rsquo;s biggest seed company, fell 5 per cent to $79.30 after it forecast fiscal 2010 earnings below Wall Street&rsquo;s estimates.<br /><br />Health insurance stocks rose 3.5 per cent after analysts said President Barack Obama&rsquo;s speech urging Congress to act on health care reform indicated a government-run insurance option opposed by the industry was less likely to pass.<br /><br />On the Nasdaq, <strong>Yahoo</strong> added 4.5 per cent to $15.45.