Stock index recovery challenged

TUESDAY'S MARKET WRAP-UP

Market Snapshot for December 20, 2011 (12:03 a.m. ET, Dec. 21):
Closing Prices: DOW 12,103.58 (+337.32, +2.87%), S&P 500 1,241.30 (+35.95, +2.98%), NASDAQ 2,603.73 (+80.59, +3.19%), Nikkei 225 8,452.26 (+115.78, +1.39%), DAX 5,847.03 (+176.32, +3.11%), FTSE 5,419.60 (+54.61, +1.02%)
OIL 97.92, GOLD 1,625.40, SILVER 29.64
EURO 1.3104, YEN 77.79, BRITISH POUND 1.5665, U.S. DOLLAR INDEX 80.06

Tuesday Rally Boosted by Housing


The market was on a tear on Tuesday as a broad market rally which began afterhours on Monday evening gained strength with Europe and soared into Tuesday's open. Positive housing data helped fuel the recovery. November's housing starts were up 9.3% to a seasonally adjusted annual rate of 685,000. Meanwhile, building permits were up 5.7% to a seasonally adjusted 681,000 units. Most of the gains were due to multifamily construction (up 32.2%), however, as the rental market expands in part due to greater difficulty by would-be homeowners to qualify for a mortgage. Housing will continue to remain a focus this week. Existing-home sales numbers are due out at 10:00 a.m. ET today.

Dow Jones Industrial Average (Figure 1)

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