Dow Climbs 156; Stocks Hit Highs

GDP grows 5.9% in last quarter of 2009

(NEWSER) - Stocks closed out February by nudging into positive territory as investors weighed the news that GDP grew by 5.9% last quarter but existing-home sales plunged, the Wall Street Journal reports.

• The Dow gained 4.23 points to close at 10,325.26.
• The Nasdaq added 4.04, settling at 2,238.26.
• The S&P 500 rose 1.56 to settle at 1,104.49.

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.

Financials and materials firms gain on construction spending, existing home sales

(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. More»

Banks still feel pain ahead of next bailout

(NEWSER) - Stocks bounced back in the wake of yesterday’s sell-off, with news of a rise in December existing-home sales feeding optimism, the Wall Street Journal reports. Merck continued to rise after reporting a quarterly profit, closing up 7.7% and boosting other pharmaceuticals. The Dow closed up 141.53 points at 8,078.36 The Nasdaq rose 21.87 points to close at 1,516.30, and the S&P 500 gained 13.06 points, settling at 838.50. More»

December existing-home sales rise 6.6%

(NEWSER) - Stocks ended higher for the third straight day today amid mixed financial news, the Finanical Times reports. Home prices sank, leading to a surge in sales, while consumer confidence remained low. A better-than-expected earnings report from AmEx led financials higher as the Dow closed up 58.70 points at 8,174.73. The Nasdaq gained 15.44 points to close at 1,504.90, and the S&P 500 rose 9.14 points, settling at 845.7. More»