Housing, corporate earnings send stocks up

A new sign of recovery in the housing market and strong corporate earnings sent stocks higher for a second day. The Dow Jones industrial average rose 103.16 points, or 0.8 percent, to 12,908.70 on Wednesday, a strong showing for what has been a mediocre July so far. The index has risen only four times in the last 12 trading days. “The market expects bad news, so when it doesn’t get it, it rises,” said John Manley, chief equity strategist at Wells Fargo Advantage Funds. “Earnings haven’t been disastrous for the quarter.”

By: By Bernard Condon, Associated Pess, The Jamestown Sun