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Stocks Rise on Housing, Goods Data; Tech, Energy Shares Lead Surge

Stocks Rise on Housing, Goods Data; Tech, Energy Shares Lead Surge

By Joanna L. Ossinger
Word Count: 1,043 | Companies Featured in This Article: Intel, Apple, Alcoa, Home Depot, Gap, AnnTaylor Stores, Countrywide Financial, Fremont General

Technology shares fueled a broad market surge Friday afternoon amid a backdrop of better-than-expected economic news.

The Dow Jones Industrial Average rose 142.99 to 13378.87, as 29 of its 30 components ended the day higher. The S&P 500 gained 16.87 to 1479.37. The Nasdaq Composite Index was up 34.99, or about 1.4%, to 2576.69.

The Friday rally was encouraging, said Ryan Detrick, chief technical strategist at Schaeffer's Investment Research. He said investors had "stepped up to the plate" and regained confidence in the markets.

Stocks moved higher throughout the session, as investors digested reports on home sales and durable-goods demand, ...

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