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Home price surge lifts stocks

10:46 PM, Mar. 26, 2013  |  Comments
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The Standard & Poor's 500 index closed within a short reach of its all-time high Tuesday. Rising home prices and orders for manufactured goods drove stocks up from the opening bell.

The S&P 500 index rose 12.08 points, or 0.8 percent, to close at 1,563.77. That's less than two points from the peak it reached on Oct. 9, 2007, before a recession and ensuing financial crisis battered markets.

The Dow Jones industrial average rose 111.90 points, also 0.8 percent, to 14,559.65.

The stock market's gains were widely shared. All 10 industry groups in the S&P 500 rose, with health care and energy companies leading the way.

"Unless something major comes along to derail this rally, it just seems like the market is going to keep climbing higher," said Marty LeClerc, the managing partner of Barrack Yard Advisors, an investment firm in Bryn Mawr, Pa.

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