Encouraging signs from the US housing market provided the main catalyst for another strong advance for equity markets yesterday that pushed leading indices on Wall Street and in Europe to their highest levels of the year.
By the close in New York, the S&P 500 was up 2.3 per cent.
The Dow Jones Industrial Average was back above 9,000 for the first time since early January while the technology-heavy Nasdaq Composite index achieved a 12th successive daily advance – a feat that never even happened during the dotcom boom years, according to David Rosenberg, chief economist and strategist at Gluskin Sheff.
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