Wednesday, May 29, 2013

Housing up

"Wall Street closed higher on Tuesday, fueled by new data showing a strengthening housing market in the United States and supportive comments from central banks around the world. 

By the end of trading, the Standard & Poor's 500-stock index was 0.6 percent higher, and the Dow Jones industrial average gained 0.7 percent. The Nasdaq composite was 0.9 percent higher. 

Markets were bolstered by a report that American home prices rose 1.1 percent in March, according to the Standard & Poor’s Case Schiller index. Analysts were looking for a rise of 1 percent. It was the biggest annual gain in nearly seven years, and a further sign that the strengthening housing recovery is providing a source of support for the economy."