Stocks rose to multimonth highs and the Standard & Poor's 500-stock index finished above 1300 for the first time since July as home-builder sentiment hit its highest level since 2007.
The Dow Jones Industrial Average gained 96.88 points, or 0.8%, to 12578.95, chalking up its biggest one-day gain in more than two weeks. The S&P 500 rose 14.37 points, or 1.1%, to 1308.04, for its sixth gain in seven days. The Nasdaq Composite surged 41.63 points, or 1.5%, to 2769.71, bringing its gains this year to 6.3%.
"We're back to where we were in July, and that should remind investors that markets are resilient and, despite the challenges, companies and policy makers are able to do what they need to do in order to move forward," said Kate Warne, investment strategist at Edward Jones.
Financial stocks led Wednesday's advance, helped by encouraging news at Goldman Sachs Group and the strong housing data. Bank of America climbed 4.9% and J.P. Morgan Chase rose 4.7% to lead the Dow components.
Technology stocks were also strong on a day that saw just one sector of the S&P 500, utilities stocks, finish lower.
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