Wall Street extended a year-end rally on Friday as the S&P 500 rose for a fourth day and turned positive for the year after a recent run of better-than-expected economic data. The S&P 500 has rallied nearly 5 percent over the last four days and is slightly higher for the year.
Investors cited recent improvement in US economic data and seasonal factors behind the move, but many are still cautious about the 2012 outlook. New US single-family home sales rose to a seven-month high in November and the supply of houses on the market was the lowest in 5-1/2 years. The data added to signs of a budding recovery in the sector, which has been one of the biggest overhangs for markets this year. The Dow Jones industrial average gained 81.06 points, or 0.67 percent, to 12,250.71. The Standard & Poor's 500 Index rose 7.99 points, or 0.64 percent, to 1,261.99. The Nasdaq Composite Index added 13.15 points, or 0.51 percent, to 2,612.60.
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