Stocks Close Higher On News Of Housing Rebound

NEW YORK (February 26, 2013)--The Dow Jones industrial average jumped nearly 116 points to end the day at 13,900 Tuesday, led by a 6 percent surge in Home Depot, the country's biggest home improvement store chain, which reported a big increase in earnings.

In another sign that the housing market was gaining steam, the government reported that sales of new homes jumped 16 percent last month to the highest level since July 2008, which sent the stocks of homebuilders higher.

Hovnanian jumped 11 percent.

The Standard & Poor's 500 rose nine points to close at 1,496.

The Nasdaq rose 13 to end at 3,129.

Two stocks rose for every one that fell on the New York Stock Exchange where volume was average at 3.8 billion shares.


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