NEW YORK: US stocks reversed early losses to end the week on a high note Friday, shrugging off dull news fromEurope and a downbeat picture ofUS home sales.
The Dow Jones Industrial Average finished up 34.59 points (0.27 percent) at 13,080.73.
The broad-market S&P 500 gained 4.33 points (0.31 percent) to 1,397.11, while the tech-rich Nasdaq Composite added 4.60 (0.15 percent) to 3,067.92.
The markets started lower after the Commerce Department released data showing new-home sales fell for the second month straight in February.
That combined with sagging data in recent days fromEuropeandAsiato keep investors in a selling mood.
"Weakening global growth has become the new concern for the market," said the Hightower Report.
But they rebounded in the afternoon as economists argued the housing data masked an improvement in the sector.
"The pullback in February does not fully characterize the underlying trend in housing. We are seeing real improvement in housing and continue to expect modest gains in the coming months," said Wells Fargo Securities.
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