Stocks Close Higher Thanks To Gain In Home Prices

NEW YORK (March 26, 2013)--The Standard & Poor's 500 index closed within 2 points of its all-time high Tuesday after another strong report on housing encouraged investors to buy.

The S&P 500 gained 12 points, or 0.8 percent, to end at 1,563 Tuesday, just 2 points away from the record high reached in October 2007.

The Dow Jones industrial average rose 111 points, or 0.8 percent, to close at 14,559, the biggest gain in three weeks.

The Nasdaq composite rose 17 points, 0.5 percent, to end the day at 3,252.

Housing prices rose in January at the fastest pace since summer 2006, before the housing bubble burst.

The Standard & Poor's/Case-Shiller index climbed 8.1 percent.

Two stocks rose for every one that fell on the New York Stock Exchange where volume was lighter than usual, 2.8 billion shares.


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