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Stocks jump after home prices, confidence surge

6:20 AM, May 29, 2013   |    comments
A sign for Wall Street is seen just outside the New York Stock Exchange.(Photo: Timothy A. Clary, AFP/Getty Images)
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NEW YORK (AP) - Wall Street has begun the trading week in rally mode once again, after pausing last week.

A run that has brought the stock market to record highs this year came back to life after consumer confidence reached a five-year high and U.S. home prices rose the most in seven years. As stock prices rose investors sold bonds, sending interest rates higher.

The Dow Jones industrial average rose 106 points to close at another record Tuesday, bouncing back from a loss the week before. The Standard & Poor's 500 index rose 10 points. It's on track for its seventh straight monthly increase, the longest winning streak since 2009. The Nasdaq composite closed up about 30 points.








Associated Press

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