Wednesday, 29 May 2013

Stocks rise with US consumer confidence and home prices

Global stock markets went back to winning ways on Tuesday. The MSCI All-Country World Index rose 0.4 percent.

The Nikkei 225 in particular was able to finish with a gain of 1.2 percent after a volatile session.

In the US, stocks rose, with the Dow Jones Industrial Average closing at a record high of 15,409.39.

Positive US economic data on Tuesday boosted stocks.

Consumer confidence climbed to the highest level in more than five years in May, according to the Conference Board. Its consumer confidence index rose to 76.2 this month from 69.0 in April.

Also improving is the US housing market. The S&P/Case-Shiller index of home prices in 20 cities increased 10.9 percent in the year to March, the biggest 12-month gain since April 2006.

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