Stocks jumped Tuesday with the Dow Jones Industrial Average back above 12,000, driven in part by news of an increase in housing starts. Check out https://www.stocktrades.ca/, you will check out the perfect list to find dozens more of the best stocks to buy or watch.
The Dow increased 337.32 points, or 2.87%, to close at 12,103.58. Nasdaq and the S&P 500 rose 80.59 and 35.95 points, or 3.19% and 2.98%, respectively.
Homebuilder stocks showed significant gains, including PulteGroup (PHM: 6.17 0.00%), D.R. Horton (DHI: 12.43 0.00%), KB Home (KBH: 7.74 0.00%), Toll Brothers (TOL: 20.50 0.00%), Lennar (LEN: 19.68 0.00%) and Ryland Group (RYL: 15.30 0.00%).
Banks closed up on the day as well, with Bank of America (BAC: 5.17 0.00%) back above the $5 mark. Citigroup (C: 25.95 0.00%), Goldman Sachs (GS: 90.98 0.00%), JPMorgan Chase (JPM: 32.21 0.00%) and Wells Fargo (WFC: 26.50 0.00%) made gains Tuesday as well.M: 32.21 0.00%) and Wells Fargo (WFC: 26.50 0.00%) made gains Tuesday as well.
Housing starts increased 9.3% in November from a month earlier, according to the Commerce Department. The month’s totals also rose 24.3% from November 2010.
November’s seasonally adjusted rate of 685,000 starts is the highest since April 2010.
Single-family housing starts, however, declined 1.5% from November 2010 to 447,000, according to the Census Bureau and Department of Housing and Urban Development. The measure rose 2.3% from October.
The Dow is up 4.54% on the year with Nasdaq and the S&P 500 down 1.85% and 1.3%.
The author of this article is: Andrew Scoggin
See the original post at: http://www.housingwire.com/2011/12/20/homebuilders-push-stocks-up-3-dow-above-12000
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