Stocks rise after encouraging reports on housing, Ukraine; Microsoft jumps, GameStop sinks

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NEW YORK, N.Y. – U.S. stocks are closing higher after some encouraging news on housing and on hopes that the conflict between Russia and the West over Ukraine won’t escalate.

The Standard & Poor’s 500 index rose 13 points, or 0.7 per cent, to close at 1,872 Tuesday.

The Dow Jones industrial average rose 89 points, or 0.6 per cent, to 16,336. The Nasdaq composite climbed 53 points, or 1.3 per cent, to 4,333.

Microsoft jumped 4 per cent after Reuters reported that CEO Satya Nadella plans to use his first big press event to unveil an iPad version of the company’s Office software suite.

GameStop sank 3 per cent following news that Wal-Mart plans to expand its video game trade-in program to its stores.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.67 per cent.

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