Stocks extended gains on Friday, sending benchmark indexes up more than 1 percent, as a report on March new home sales suggested some stabilization in the housing market.
The market built on increases sparked earlier by reassuring corporate results, including a smaller-than-expected loss from struggling Ford Motor Co
Sentiment also got a boost from government data that showed durable goods orders fell less than expected in March. The Dow Jones home construction index <.DJUSHB> rose 4 percent.
The Dow Jones industrial average <.DJI> was up 100.11 points, or 1.26 percent, at 8,057.17. The Standard & Poor's 500 Index <.SPX> rose 11.03 points, or 1.29 percent, at 862.95. The Nasdaq Composite Index <.IXIC> gained 22.68 points, or 1.37 percent, at 1,674.89.
(Reporting by Edward Krudy; editing by Jeffrey Benkoe)