Rally Pauses; Dow Adds 15

Data on home resales spur rally

(NEWSER) - Stocks rallied today on news that home resales jumped 10.1% in October and comments from the president of the St. Louis Fed reaffirming the government's extended commitment to support the credit markets, the Wall Street Journal reports.

• The Dow jumped 132.79 points to close at 10,450.95, a new high for 2009.
• The Nasdaq added 29.97, closing at 2,176.01.
• The S&P 500 rose 14.86 to settle at 1,106.24.

Telecoms fall after FCC OKs internet calls on smartphones

(NEWSER) - Stocks ended mixed as traders await the beginning of the third-quarter earnings season, which kicks off with Alcoa’s report later today. Telecoms fell after the FCC chair said he would allow Internet-based phone calls on smartphones. AT&T was down 3.6%, while Verizon fell 2.7%. Amid light volume, the Dow fell 6 points to 9,725, the Nasdaq gained 7, settling at 2,110, and the S&P 500 added 3 points, closing at 1,058, reports the Wall Street Journal. More»

Investors await consumer confidence, housing, GDP data

(NEWSER) - Stocks closed near to opening levels today, with the Dow just barely extending its winning streak into a fifth session, the Wall Street Journal reports. All the indices hit new highs for 2009 early, boosted by housing data, investors pulled back ahead of looming reports on consumer confidence, new home sales, and second-quarter GDP. The Dow closed up 3.32 points at 9,509.28. The Nasdaq sank 2.92 to close at 2,017.98, and the S&P 500 lost .57, closing at 1,025.56. More»

Nasdaq caps 12-day streak

(NEWSER) - Sustained increases in home sales and robust earnings fueled a broad-based rally today, pushing the Dow above 9,000 for the first time since January and marking a 12-day winning streak for the Nasdaq—the first in more than a decade, the Wall Street Journal reports. AT&T and 3M both gained on better-than-expected reports. The Dow added 188.03, closing at 9,069.29. The Nasdaq rose 47.22, to 1,973.60, and the S&P 500 gained 22.22, settling at 976.29. More»

Home sales report boosts stocks

(NEWSER) - Stocks closed with mild gains today even as US firms announced roughly 50,000 job cuts, the Wall Street Journal reports. The market was buoyed by a report that home sales are picking up as buyers take advantage of low prices. The Dow closed up 38.47 at 8,116.03. The Nasdaq gained 12.17 to close at 1,489.46, and the S&P 500 rose 4.62, settling at 836.57. More»