U.S. stocks rose after better-than-estimated home sales overshadowed disappointing data on jobless claims.

Market news

26 April 2012

U.S. stocks rose after better-than-estimated home sales overshadowed disappointing data on jobless claims.

Equities rebounded after data showed that signed contracts to buy U.S. homes increased more than forecast in March. Benchmark gauges fell earlier today as more Americans than forecast filed applications for unemployment benefits last week.

Chevron (CVX) rose 1.7% to $105.87. The second-largest U.S. energy company boosted its quarterly dividend to 90 cents a share from 81 cents.

Exxon (XOM) declined 1.6% to $85.84 after saying net income fell 11%.

The S&P 500 trades above 1400 for the first time since April 5. Market will want to see a close above that level for upward momentum to mount. Currently S&P 500 at 1400.25.

Crude Oil rose

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