Stocks rebound on home prices, earnings; Dow up 99

  • Associated Press
  • February 5, 2013 - 3:09 PM

NEW YORK - The stock market gained back most of what it lost the day before following several strong earnings reports and a surge in home prices.

The Dow Jones industrial average rose 99 points to close at 13,979 Tuesday. It lost 129 points the day before.

The Standard & Poor's 500 index rose 15 points to 1,511. The Nasdaq composite rose 40 points to 3,171.

U.S. home prices rose in December at the fastest pace in more than six years, according to the real estate data provider CoreLogic.

Several companies also reported strong earnings, including Kellogg, Computer Sciences Corp. and Archer Daniels Midland.

Rising stocks outnumbered falling ones two-to-one on the New York Stock Exchange. Volume was average at 3.5 billion shares.

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