Best month in years gives markets hope

NECN/ABC) - The bulls are loose on On Wall Street, as the Dow Jones closed with the best month in nearly 7 years.

The NASDAQ has not had a July as good since 1997.

"You have to remember you can get double digit returns when you are coming from such a low point. The move is exceptional but it is in the face of double digit downward moves that we had prior," Ben Willis of VDM Institutional Brokerage said.

But could this still be a signal the worst of the recession is over? The latest economic analysis from Washington shows a 1-percent negative growth rate for the country -- much less than was feared.