Friday, May 25, 2007

New homes data in April soars

Stocks surge on record home sales data (AP)

A sign advises passers-by that luxury homes are for sale in a development in Rockville Centre, N.Y. Wednesday May 23, 2007.  The Commerce Department is scheduled to release the  new home sales figures  Thursday morning. (AP Photo/Rich Kareckas)AP - Wall Street powered higher Thursday after the government's new homes data in April soared to its biggest increase in 14 years, allaying investor concerns that the housing market will tip the economy into a recession.


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