Bloomberg News

U.S. Stocks Extend Gains After Pending Home Sales Top Estimates

December 30, 2011

Dec. 29 (Bloomberg) -- U.S. stocks extended gains after pending home sales topped economists’ estimates in November.

The Standard & Poor’s 500 Index climbed 0.5 percent to 1,255.65 at 10:01 a.m. in New York.

The index of pending home sales increased 7.3 percent to the highest level since April 2010 after climbing 10.4 percent the prior month, figures from the National Association of Realtors showed today in Washington. Economists forecast a 1.5 percent gain, according to the median estimate in a Bloomberg News survey.

To contact the editor responsible for this story: Michael P. Regan at

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