Share prices climb on dollar, home sales
Associated Press
NEW YORK — The stock market ended a three-day losing streak yesterday, closing broadly higher as a weaker dollar and upbeat home sales numbers encouraged investors to take on more risk.
Major stock indexes soared more than 1 percent, including the Dow Jones industrials, which rose 133 points to a 13-month high. Volume was light as Thanksgiving approached, and that likely padded some of the market's advance.
Investors who fled to the safety of the dollar and Treasurys in recent days found plenty of reasons to return to stocks. The day's developments pointed to two key trends, a recovering economy and interest rates staying low.