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Wall Street: S&P nears record as home price surge lifts stocks

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Posted: Wednesday, March 27, 2013 12:00 am

NEW YORK The Standard & Poor’s 500 index closed within a short reach of its all-time high on Tuesday. Rising home prices and orders for manufactured goods drove stocks up from the opening bell.

The S&P 500 rose 12.08 points, or 0.8 percent, to close at 1,563.77. That’s less than two points from the peak it reached on Oct. 9, 2007, before a recession and ensuing financial crisis battered markets. The Dow Jones industrial average rose 111.90 points, also 0.8 percent, to 14,559.65.

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