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Home sales report helps boost stocks
U.S. stocks rose on solid readings with the Dow up 142.99 points as new home sales for July climbed 2.8 percent and durable goods orders jumped 5.9 percent. The weekly gains followed calmer market tone after the Fed cut lending rates and potential easing of credit constraints. The Dow closed at 13,378.87, the S&P 500 at 1,479.37, and the Nasdaq at 2,576.69, marking sizable weekly advances. The rally centered on evidence the economy remains healthy despite housing concerns.
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New York
Wall Street
Federal Reserve
Fed
Nicholas Raich
Equity
National City
Cleveland
Standard & Poor
Commerce Department
U.S