Market Insider

Private payroll data could show whether the thaw is on

The new 2015 Chrysler 200 is shown in the paint shop at the Sterling Heights Assembly Plant in Sterling Heights, Mich.
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Stocks are sniffing out a spring thaw, and private payroll data Wednesday should give some further clues as to whether the bounce back rally can continue.

Monthly auto sales Tuesday were surprisingly strong, reflecting pent up buying demand from the months of bad winter weather and also a willingness by consumers to spend on big-ticket items. Sales by the top five carmakers were up 5.7 percent to an annualized selling rate of 16.4 million vehicles, well above an expected 15.8 million rate and last year's pace of 15.6 million.