Bell Properties | Knoxville Real Estate

Here is a great article I found on Forbes.com and thought I would share it with you guys.

Stocks finished Tuesday with solid gains of more than 1% thanks to data showing that home sales hit their highest level in more than three years. Big gainers included Staples, which reported earnings, and government-controlled insurer AIG, which struck a deal with the Federal Reserve to slash its debt.

The major indexes opened sharply higher after the housing numbers came out and held onto their gains throughout the session. The Dow Jones industrial average climbed 127 points, or 1.2%, to 10,472. the S&P 500 was up 13 points, or 1.2%, to 1,109, and the Nasdaq outpaced the others with a gain of 31 points, or 1.5%, to 2,176.

Early trading centered on the release of pending home sales figures showing an increase of 3.7% in October, well ahead of the 1% drop economists had predicted. Construction spending was flat, also better than expected, while an index of manufacturing activity slumped more than expected in November.

Bed Bath & Beyond ( BBBY – news – people ) shares rose after an analyst said the chain of homewares stores would beat Wall Street estimates in coming quarters. Shares gained 4.1%.

Staples ( SPLS – news – people ) shares gained 4.8% after the office supply retailer said it beat analyst predictions for quarterly profit by a penny on sales that slipped 6% from 2008.

U.S. automakers continue to struggle, but vehicle sales are edging up, according to sales data released Tuesday. While foreign manufacturers including Toyota Motor ( TM – news – people ) and Hyundai Motor showed gains, Ford Motor ( F – news – people ) was flat and Chrysler saw sales fall by a quarter in November. Sales of automobiles in the U.S. are down 25% this year, but analysts are forecasting a modest recovery in 2010.

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