U.S. stocks rose as better-than- estimated consumer confidence and home prices bolstered optimism the recession is ending. Treasuries gained as crude oil fell more than $2 a barrel to the lowest price in a week.
Macy’s Inc. and Bed Bath & Beyond Inc. added more than 3.4 percent as the Conference Board’s measure of consumer sentiment increased to 54.1, topping the median projection of 47.9. Pulte Homes Inc., the nation’s biggest builder by market value, rose 3.5 percent as the S&P/Case-Shiller home-price index for 20 U.S. cities dropped by the smallest amount since April 2008. Energy companies fell as crude lost 3.1 percent from a 10-month high.
The Standard & Poor’s 500 Index added 0.2 percent 1,028 at 4 p.m. after rallying as much as 1.2 percent. The Dow Jones Industrial Average advanced 30.01 points, or 0.3 percent, to 9,539.29, gaining for the sixth straight day. Both measures reached their highest levels of 2009.
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