Dow 30
The Dow Jones industrial average (DJI) rose 155.6 points, or 0.91 percent, to 17,211.47, the S&P 500 gained 15.65 points, or 0.79 percent, to 1,998.42 and the NASDAQ Composite added 46.53 points, or 1.03 percent, to 4,555.22. U.S. stocks jumped in a broad advance on Wednesday, with the S&P 500 snapping a three-day losing streak and climbing back above a key technical level in a move that pointed to improving near-term momentum. "We're having a nice bounce on the housing data, which hasn't been very good in a while, and people are buying the recent dip," said Tim Ghriskey, chief investment officer of Solaris Group in Bedford Hills, New York. "This is a market that continues to attract capital from other asset classes, because where else can investors go for yield?" New home sales jumped sharply in August, easing concerns over the sector stemming from Monday's weak report on existing home sales. The PHLX Housing index (HGX) rose 0.6 percent. Equities were also supported after a top Federal Reserve official said at a conference that the Fed should be "exceptionally patient" in removing monetary policy accommodation.
