Gain in consumer confidence sends stocks higher - KWWL - Eastern Iowa Breaking News, Weather, Closings

Gain in consumer confidence sends stocks higher


NEW YORK (KWWL) - The stock market managed to carve out modest gains amid news of a rebound in consumer confidence and more healing in the housing industry.

Financials, retailers and homebuilders were the day's biggest winners. A sharp drop in energy stocks kept a lid on the market's advance.

While investors were pleased by positive reports on consumers and housing, trading was choppy, as it has been in recent sessions.

According to preliminary calculations, the Dow Jones industrials are up 30 at 9,539, after earlier rising as much as 111 points. The Standard & Poor's 500 index is up 2 at 1,028, while the Nasdaq composite index is up 6 at 2,024.

Two stocks rose for every one that fell on the New York Stock Exchange, where volume came to 1.12 billion shares.

Online News Director Nate Leding

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