Despite sharply lower new home sales, the markets closed higher with the Dow climbing 86 points to 12,849 as Ford reported an unexpected profit for the first quarter. Nasdaq surged 24 points to 2429.
On the upside
In the broad market, advancing issues outpaced decliners by a margin of more than 5 to 3 on the NYSE and while decliners barely edged out advancers by a slim margin on Nasdaq. The Russell 2000 which tracks small cap stocks climbed 9 points to 717.