U.S. stocks rose the most in a week, led by strong gains in the technology and consumer discretionary sectors. In corporate news, BHP Billiton posted better-than-anticipated results on solid gains in achieved pricing for copper, iron ore and steel-making coal. In economic news, home prices rose 6.6% during the second quarter, slightly higher than anticipated. Given a light economic calendar, investor focus will likely remain highly attuned to the Kansas City Fed's annual Jackson Hole conference set to begin this Thursday. U.S. Treasuries declined today.
The Dow Jones Industrial Average* was up 196 points or 0.9% to 21,900
The Standard & Poor's 500 Index was up 24 points or 1.0% to 2,453
The NASDAQ Composite Index was up 84 points or 1.4% to 6,297
The 30-year Treasury yield closed higher at 2.79% and the 10-year Treasury yield finished higher at 2.21%
The spot price of gold fell $6.76 to $1,285.13
And the price of crude oil rose $0.27 to $47.64
See our Weekly Market Update.
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