Investing.com - U.S. stocks advanced on Wednesday after official data showed that purchases of new U.S. homes soared in April to the highest level in two years.
During early U.S. trade, the Dow Jones Industrial Average was up 0.99%, the S&P 500 index gained 1.19% and the Nasdaq Composite index was up 1.69%.
Earlier in the day, the U.S. census bureau said sales of newly built U.S. single-family homes were at a seasonally adjusted annual rate of 504,000 during April, up from a revised 439,000 during March.
The increase came as buyers hurried to qualify for a government tax credit before it expired at the end of the month.
Across the Atlantic, stock markets also climbed: France’s CAC 40 was up 3.1%; Germany's DAX rose 2.44%; Britain's FTSE 100 was up 2.81%; and the EURO STOXX 50 rose 2.73%.
Also Wednesday, a government report showed that new orders for long-lasting U.S. manufactured goods rose more than expected in April.
During early U.S. trade, the Dow Jones Industrial Average was up 0.99%, the S&P 500 index gained 1.19% and the Nasdaq Composite index was up 1.69%.
Earlier in the day, the U.S. census bureau said sales of newly built U.S. single-family homes were at a seasonally adjusted annual rate of 504,000 during April, up from a revised 439,000 during March.
The increase came as buyers hurried to qualify for a government tax credit before it expired at the end of the month.
Across the Atlantic, stock markets also climbed: France’s CAC 40 was up 3.1%; Germany's DAX rose 2.44%; Britain's FTSE 100 was up 2.81%; and the EURO STOXX 50 rose 2.73%.
Also Wednesday, a government report showed that new orders for long-lasting U.S. manufactured goods rose more than expected in April.