U.S. stocks rose on Monday as the U.S. dollar continued its slide, making commodities and equities more attractive investments.
The dollar fell against its counterparts and hit a new 15-year low against the Japanese yen after world leaders failed to come up with a concrete plan to prevent currency war in the future.
Meanwhile, the National Association of Realtors said sales of previously occupied homes rose 10 percent to a seasonally adjusted annual rate of 4.53 million in September after the worst summer for the housing market in more than a decade.
However, the most-battered sector is still far from recovery, especially when the industry fears that potential lawsuits over flawed foreclosure documents could keep buyers away from buying in the final months of the year.
In Washington, Federal Reserve Chairman Ben Bernanke said on Monday that regulators have been concerned about “reported irregularities in foreclosure practices at a number of large financial institutions” and are conducting an in-depth review.
The Dow Jones industrial average gained 68.42, or 0.61 percent, to 11,200.98. The Standard & Poor’s 500 index climbed 6.90 points, or 0. 58 percent, to 1,189.98 and the Nasdaq was up 17.99 points, or 0.73 percent, to 2,497.38. (PNA/Xinhua)