Stocks Rally on Economic Data

Stocks rallied in trading on Tuesday, with the Dow Jones closing at a record high, as some robust economic data lifted investors’ sentiment.

The Dow Jones ended the day 0.77% higher at 14,559.65, the S&P 500 ended the day 0.78% higher at 1,563.77, and the Nasdaq ended the day 0.53% higher at 3,252.48.

Stocks rallied as investors digested some encouraging U.S. economic data. The S&P/Case-Shiller index of home prices in 20 U.S. cities rose 8.1% in January. This was the biggest year-over-year increase since 2006. Meanwhile, a report from the Commerce Department showed that durable goods orders rose in February, driven by a rebound in demand for transportation and equipment.

All sectors in the S&P 500 except Conglomerates ended the day in green. The gains were led by Consumer Non-Cyclical sector, which ended the day 1.27% higher. Energy sector also rose sharply, ending the day 1% higher.

Among the major movers in trading on Tuesday were Sonic Corporation (NASDAQ: SONC), which ended the day 9.72% higher at $12.87, Gulfport Energy Corporation (NASDAQ: GPOR), which ended the day 7.75% higher at $46.44, and RF Micro Devices Inc. (NASDAQ: RFMD), which ended the day 6.92% higher at $5.25.

European markets ended mostly higher on Tuesday, with the FTSE 100 Index in London closing 0.33% higher, and the CAC 40 Index in Paris closing 0.55% higher. Asian markets ended on a mixed note overnight, with the Nikkei 225 Index in Japan closing 0.60% lower, and the Hang Seng Index in Hong Kong closing 0.27% higher.



Ed Liston is a senior contributing editor at An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.