Dow Ends Day Up 348
S&P 500, Nasdaq also close higher
By Newser Editors and Wire Services
Posted Mar 1, 2016 3:21 PM CST
Specialist Vincent Surace, center, works with traders at his post on the floor of the New York Stock Exchange on Tuesday.   (Richard Drew)
camera-icon View 7 more images

(Newser) – Stocks are closing sharply higher, giving the market its best day in over a month. Traders were encouraged by several pieces of good news on the US economy Tuesday, including a jump in construction spending to the highest level in eight years. Homebuilders and banks were among the biggest gainers. JPMorgan Chase and Bank of America each rose 5%. The Dow Jones industrial average climbed 348 points, or 2.1%, to 16,865. The Standard & Poor's 500 index gained 46 points, or 2.4%, to 1,978. The Nasdaq composite rose 131 points, or 2.9%, to 4,689.