iOS app Android app More

Home builders, retailers lead gains in US stocks

stumbleupon: Home builders, retailers lead gains in US stocks   digg: US Works With Sudan Government Suspected Of Aiding Genocide   reddit: Home builders, retailers lead gains in US stocks   del.icio.us: Home builders, retailers lead gains in US stocks

STEVE ROTHWELL | February 26, 2014 12:01 PM EST | AP


NEW YORK (AP) — The stock market is higher in midday trading as investors respond to a sharp increase in new home sales and earnings gains at major retailers.

The Standard & Poor's 500 index rose four points, or 0.2 percent, to 1,849 points as of noon Wednesday. That's just above the record high close it reached on Jan. 15.

The Dow Jones industrial average rose 35 points, or 0.2 percent, to 16,215. The Nasdaq composite climbed 22 points, or 0.5 percent, to 4,310.

Lennar rose 4 percent and PulteGroup rose 3 percent after the government reported that sales of new homes jumped in January to fastest pace in more than five years.

Lowe's climbed 6 percent after the home improvement retailer reported higher earnings as the housing market continued to recover.