Stocks pushed higher for a third day after a surprisingly strong report on housing provided the latest evidence that the economy is picking up speed. The National Association of Realtors said home resales jumped 7.4 percent in November, far more than the 2.5 percent analysts expected. Tax breaks have spurred sales to their highest level in nearly three years. The report added to a string of encouraging news on the economy including upbeat earnings and forecasts from technology companies and more corporate dealmaking.
The Dow Jones industrial average rose 50.79, or 0.5 percent, to 10,464.93.
The Standard & Poor's 500 index rose 3.97, or 0.4 percent, to 1,118.02.
The Nasdaq composite index rose 15.01, or 0.7 percent, to 2,252.67.
For the week:
The Dow is up 136.04, or 1.3 percent.
The S&P is up 15.55, or 1.4 percent.
The Nasdaq is up 40.98, or 1.9 percent.
For the year:
The Dow is up 1,688.54, or 19.2 percent.
The S&P is up 214.77, or 23.8 percent.
The Nasdaq is up 675.64, or 42.8 percent.