The recovery on Tuesday gave traders a break from persistent worries about European government debt and allowed them to focus on economic news.
Two reports from the Commerce Department offered the latest evidence that the U.S. economy is improving. Orders for big-ticket manufactured goods rose 2.9 percent last month. It was the biggest jump in three months and more than double the gain economists polled by Thomson Reuters had forecast.
U.S. manufacturing has been strong throughout the recovery. April's figures were boosted by a big rise in transportation orders. Excluding transportation, orders fell 1 percent.
The government also said that sales of new single-family homes rose 14.8 percent to an annual rate of 504,000 units after buyers raced to secure an expiring tax credit. That followed a 29.8 percent rise in March that was the biggest increase in 47 years. The latest gain was well ahead of estimates.
The Associated Press: Stocks climb after durable goods, home sales rise
Two reports from the Commerce Department offered the latest evidence that the U.S. economy is improving. Orders for big-ticket manufactured goods rose 2.9 percent last month. It was the biggest jump in three months and more than double the gain economists polled by Thomson Reuters had forecast.
U.S. manufacturing has been strong throughout the recovery. April's figures were boosted by a big rise in transportation orders. Excluding transportation, orders fell 1 percent.
The government also said that sales of new single-family homes rose 14.8 percent to an annual rate of 504,000 units after buyers raced to secure an expiring tax credit. That followed a 29.8 percent rise in March that was the biggest increase in 47 years. The latest gain was well ahead of estimates.
The Associated Press: Stocks climb after durable goods, home sales rise