Stocks extend gains after home sales report

NEW YORK – The Dow Jones industrials are back above 9,000 for the first time since the beginning of January

A report Thursday of a jump in home sales eased investors' worries about one of the economy's biggest trouble spots. They responded by buying stocks across the market, lifting the major indexes more than 1.5 percent and sending the Dow up 150 points past 9,000.

"Things are getting much better and the market is pricing it in," said Phil Orlando, chief equity market strategist at Federated Investors.

In midmorning trading, the Dow rose 153.26, or 1.7 percent, to 9,034.52. The blue chips last traded and closed above 9,000 on Jan. 6.

The Standard & Poor's 500 index rose 17.03, or 1.8 percent, to 971.10, while the Nasdaq composite index rose 32.77, or 1.7 percent, to 1,959.15.