Wall Street resumes rally following housing report

March 17, 2009 1:12:43 PM PDT
Investors have restarted Wall Street's rally following a surprisingly upbeat report on home construction. [CHECK THE MARKETS: Get the latest numbers from Wall Street]
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Financial, home builder and energy stocks have led the market to another sharp jump Tuesday after the government said home construction rose in February. Traders see stability in the housing market as key to the economy's recovery.

According to preliminary calculations, the Dow Jones industrial average is closing up 179 at 7,396. The Standard & Poor's 500 index is up 24 at 778. The Nasdaq composite index is up 58 at 1,462.

More than four stocks rose for every one that fell on the New York Stock Exchange. Volume came to a light 1.5 billion shares. (Copyright 2009 by The Associated Press. All Rights Reserved.) APEX-03-17-09 1509CDT

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