Published March 21, 2014
U.S. equity markets posted big gains on Thursday as a round of strong economic data helped offset worries about hawkish Fed comments.
The Dow Jones Industrial Average rose 108.9 points, or 0.67%, to 16331, the S&P 500 climbed 11.2 points, or 0.6%, to 1872 and the Nasdaq Composite jumped 11.7 points, or 0.27%, to 4319.
The National Association of Realtors reported sales of existing single-family homes fell 0.4% to an annualized rate of 4.6 million units in February, matching expectations. Still, it was the lowest reading since July 2012.
Lennar reported a 36% increase in its first-quarter earnings, as the home builder’s average selling prices continued to tick higher.
Starbucks (SBUX) is expanding its menu to include wine, beer and truffle macaroni and cheese, hoping to revive late-day revenue.