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Technology, Industrial and Material stocks took the Dow & S&P to new heights. John Massey, portfolio manager at SunAmerica Asset Management in Jersey City said: "Industrials have been among the best performers so far this year, so they're getting a lot of the momentum money.I think it's clear we're on an upward path."
Jack Ablin, chief investment officer of Harris Private Bank in Chicago said: "It's incremental good news that it was better than expected, but given the huge overhang of inventory, it's clear that housing will remain a troubled sector for awhile."
Dow Jones closed up 0.95 percent, to 10,888.83. The S&P 500 index was 0.72 percent, to 1,174.17, while the Nasdaq rose 0.83 percent, to 2,415.24.
