Stocks open sharply higher on Wall Street

NEW YORK (AP) — A jump in home prices is helping send the stock market sharply higher in early trading.

The Dow Jones industrial average rose 143 points to 15,447 shortly after the opening bell Tuesday, a gain of 1 percent.

The Standard & Poor’s 500 index was up 17 points at 1,666, or 1.1 percent. The Nasdaq composite was up 41 points at 3,500 or 1.8 percent.

Markets were closed Monday for the Memorial Day holiday.

U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006, according to the Standard & Poor’s/Case-Shiller home price index.

Home builder stocks rose after the report came out. Beazer Homes rose 2 percent.

Tiffany rose 6 percent after the jewelry store operator reported earnings gains in all its regions.

WKBN 27 First News provides commenting to allow for constructive discussion on the stories we cover. In order to comment here, you acknowledge you have read and agreed to our Terms of Service. Commenters who violate these terms, including use of vulgar language or racial slurs, will be banned. No links will be permitted. Please be respectful of the opinions of others. If you see an inappropriate comment, please flag it for our moderators to review.

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s