This combination of Associated Press file photos shows a can of Spam in Philadelphia on Aug. 16, 2010, left, and a 16.3 ounce jar of Skippy peanut butter in Somerville, Mass. on Aug. 26, 2008. Hormel Foods, the company primarily known for Spam and other cured, smoked and deli meats said Thursday, Jan. 3, 2013, that it's buying Skippy, the country's No. 2 peanut butter brand, in its biggest-ever acquisition. (AP Photo/File)
Stocks rise, recovering most of Monday's loss
Published: 04:49:35 PM, Tue 05 February 2013 UTC
NEW YORK (AP) — Stocks are moving higher on Wall Street following a surge in U.S. home prices and new signs of strength in Europe's economy.
The Dow Jones industrial average was up 113 points at 13,993 shortly before midday Tuesday.
The Standard & Poor's 500 rose 14 to 1,509. The Nasdaq rose 29 to 3,160.
The gains follow two days of whiplash. On Friday the Dow gained 149 points, rising above 14,000 for the first time since 2007. On Monday it fell 129 points, the worst drop of the year.
Tuesday's advance was driven by a surge in U.S. home prices in December and a jump in a measure of Europe's manufacturing and service businesses to a 10-month high in January.
Kellogg and Archer Daniels Midland rose after reporting strong earnings.
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