Market Soars After Strong Home Sales

The bull continues. The Dow is up over 170 pts, as all the indices are gaining over 2%.

You can take your pick of which story is driving the move.

  • New home sales just came in much better than expected, gaining 3.7%.
  • Washington’s anti-Wall Street attitude has clearly cooled. Obama’s press conference last night probably helped on that.
  • Durable Goods orders came in much better than expected.
  • Ken Lewis says Bank of America is doing great and will start repaying the TARP.

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