Stocks gain after reports on housing, Ukraine

AP News
Posted: Mar 18, 2014 4:12 PM

NEW YORK (AP) — U.S. stocks are closing higher after some encouraging news on housing and on hopes that the conflict between Russia and the West over Ukraine won't escalate.

The Standard & Poor's 500 index rose 13 points, or 0.7 percent, to close at 1,872 Tuesday.

The Dow Jones industrial average rose 89 points, or 0.6 percent, to 16,336. The Nasdaq composite climbed 53 points, or 1.3 percent, to 4,333.

Microsoft jumped 4 percent after Reuters reported that CEO Satya Nadella plans to use his first big press event to unveil an iPad version of the company's Office software suite.

GameStop sank 3 percent following news that Wal-Mart plans to expand its video game trade-in program to its stores.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.67 percent.