Dow rises 143 points this morning, to 10,445.
NEW YORK (AP) — Investors regained their enthusiasm for stocks
Tuesday, sending prices sharply after reports showed a slight
improvement in the housing market and a big jump in industrial
production.
Investors were also encouraged by earnings from Home Depot Inc. and
Wal-Mart Stores Inc. that were better than expected. The Dow Jones
industrial average rose 144 points in midday trading. All the major
stock indexes were up more than 1 percent.
Economic reports in recent months have almost exclusively pointed
to slowing growth. Weakening data has led some investors to worry
that the country could fall back into recession. The data Tuesday
provided a slice of optimism and some reassurance that the economy
continues to expand, albeit slowly.
“The data and earnings should ease people’s concerns about a
double-dip” recession, said Peter Bible, a partner at EisnerAmper.
“We’re anemic; we’re slow; we’re crawling, but we’re not going
backward.”
