Pending Home Sales and Stocks Rising
"Stocks rebounded Wednesday after a stronger-than-expected increase in pending home sales restored investors' optimism about the economy.
The upbeat report on home sales provided some hope on the nation's housing market. An increase in signed contracts for homes was due partly to a rush to meet a tax credit that expired in April. The National Association of Realtors said its index the measures the number of contracts on existing homes rose 6 percent in April. The increase was ahead of the estimates of economists polled by Thomson Reuters."