U.S. stocks rise, led by technology companies

Positive reports on home sales and consumer spending

4/29/2013
ASSOCIATED PRESS
Wall-Street-273

Specialist Glenn Carell works at his post on the floor of the New York Stock Exchange Monday, April 29, 2013. A pair of encouraging economic reports helped propel the stock market up in early trading on Monday. (AP Photo/Richard Drew)

ASSOCIATED PRESS

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.