Dow Rallies on Housing; Up 214

Financials and materials firms gain on construction spending, existing home sales
By Nick McMaster,  Newser Staff
Posted May 4, 2009 3:17 PM CDT
A pair of traders meet at a phone post on the floor of the New York Stock Exchange today.   (AP Photo)
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(Newser) – Stocks rallied today on positive economic news, with the S&P 500 surpassing the psychologically significant 900 mark, the Wall Street Journal reports. Surges in construction spending and existing-home sales fueled investor optimism, with financials and materials firms pacing advances. The Dow rose 214.33 to close at 8,426.74. The Nasdaq gained 44.36, settling at 1,763.56, and the S&P 500 added 29.72, closing at 907.24.