New York, Feb 3 (DPA) US stocks posted strong gains for a second straight day indications of a stronger US housing market and gains in commodity stocks.
Pending sales of existing homes climbed one percent in January, according to the National Association of Realtors. Shares of DR Horton surged 11 per cent after the second-largest US homebuilder posted its first quarterly profit since 2007.
Energy stocks were boosted as the price of crude oil jumped 3.8 percent to $77.23 per barrel. Aluminium giant Alcoa gained after Citigroup predicted higher metals prices and advised buying shares.
The Dow Jones Industrial Average jumped 111.32 points, or 1.09 percent, closing at 10,296.85. The broader Standard & Poor’s 500 Index surged 14.13 points, or 1.3 percent, to 1,103.32. The technology-heavy Nasdaq Composite Index climbed 18.86 points, or 0.87 percent, to 2,190.06.
The US currency edged lower against the euro to 71.64 euro cents from 71.79 euro cents Monday. The dollar fell against the Japanese currency to 90.37 yen from 90.62 yen.
