Monday, Aug 29, 2016
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Stock Market

U.S. stocks rise, led by technology companies

Positive reports on home sales and consumer spending

NEW YORK — Encouraging economic reports are sending stock prices higher on Wall Street.

Wages and spending rose in the U.S. last month, and pending home sales hit a three-year high.

The Dow Jones industrial average was up 66 points to 14,779 at noon today, a gain of 0.4 percent.

The number of Americans who signed contracts to buy homes reached the highest level since April, 2010, according to the National Association of Realtors. Back then, a tax credit for buying houses had lifted sales.

The Standard & Poor’s 500 rose nine points to 1,591, or 0.6 percent. The S&P is just two points below the record high it reached April 11.

The Nasdaq rose 27 points at 3,305, or 0.8 percent. Apple and Microsoft led the gains in technology stocks.

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