US stocks : Dow up 1.7 pct
buying opportunity.
There is no question, what lit the fuse was constructive conversation, constructive talking points out of Washington that has done far more to help the market than anything else - the backdrop is the oversold market, Kenny said.
Monday's advance marked the biggest percentage gain for the S&P 500 since November 6, when the European Central Bank announced a new bond-buying program aimed at containing the region's debt crisis.
Shares of Lowe's Cos Inc, the world's No. 2 home improvement chain, jumped 6.2 percent to $33.96 to hit a 52-week high after the company reported higher-than-expected quarterly profit and raised its full-year sales forecast.
Home improvement chains tend to benefit as housing strengthens. U.S. home resales unexpectedly increased in October, while separate data showed homebuilder sentiment rose to its highest level in over six years in November.
The PHLX Housing Index rose 1.8 percent.
The Dow Jones industrial average gained 207.65 points, or 1.65 percent, at 12,795.96. The Standard & Poor's 500 Index was up 27.01 points, or 1.99 percent, at 1,386.89. The Nasdaq Composite Index was up 62.94 points, or 2.21 percent, at 2,916.07.
The S&P edged above its 200-day moving average at around 1,382, which has acted as a resistance level since a drop below the technically significant mark on November 8.
Tyson Foods Inc beat expectations and gave an upbeat forecast, sending its stock up 10.9 percent to $18.72.
Intel shares edged higher, up 0.3 percent to $20.25 after the company said its chief executive will retire in May.
Commodities prices surged, boosting shares of
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