Stocks rally; SP 500 above 5-year mark Housing st
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Stocks rally; S&P 500 above 5-year mark
Housing starts rise more than expected, jobless claims drop sharply
NEW YORK (MarketWatch) — U.S. stock gains on Thursday positioned the S&P 500 index for its highest close since late 2007 as upbeat jobs and housing reports offered respite from politics and other concerns.Government data had housing starts rising more than anticipated and jobless claims dropping to a five-year low, helping propel home builders and other consumer-discretionary companies to strong gains.
Rising above the 1,474 resistance level, the S&P 500 index (SNC:SPX) rallied 11.13 points, or 0.8%, to 1,483.76, a level that would have it at its best finish since Dec. 26, 2007.
The Dow Jones Industrial Average (DJI
JIA) advanced 111.65 points, or 0.8%, to 13,621.88, with 24 of its 30 components rising.
The Nasdaq Composite index (NASDAQ:COMP) rose 24.27 points, or 0.8%, to 3,141.81. http://www.marketwatch.com/story/stocks-gain-...2013-01-17
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