The U.S. market rebounded Thursday as positive data on the country's economy offset concerns about the euro zone. Pending sales of existing U.S. homes surged to a one and half year high in November, offering more signs of a tentative housing recovery.
The Dow Jones industrial average gained 1.11 percent or 134.42 points to close at 12,285.83. The Standard & Poor's 500 index was up 1.07 percent or 13.37 points to close at 1,263.01. The Nasdaq Stock Market Inc. composite index rose 0.92 percent or 23.76 points to close at 2,613.74.
Hot Stocks of the Day: ALXN, LOW, PPHM, AMZN
Alexion Pharmaceuticals, Inc. (Nasdaq: ALXN) agreed to acquire privately held Enobia Pharma in a deal valued at up to $1.08 billion, expanding its involvement with treatments for rare life-threatening diseases. Shares of ALXN gained 0.18 percent, or $0.13, to close at $71.05.
Lowe's Cos., Inc. (NYSE: LOW) has acquired online home-improvement retailer ATG Stores, a deal that is expected to expand the company's Web presence and product offerings. Shares of LOW gained 2.21 percent, or $0.55, to close at $25.61.
Peregrine Pharmaceuticals Inc. (Nasdaq: PPHM) shares rose after the company reported positive findings from an early trial of its hepatitis-C treatment. Shares gained 6.06 percent, or $0.06, to close at $1.05.
Amazon.com Inc. (Nasdaq: AMZN) shares fell 0.18 percent, or $0.32, to close at $173.55 after Goldman Sachs indicated in a research note that the online retailer's sales growth for the current quarter might fall short of expectations.
Currencies and Commodities:
In the world of currency, the US dollar gained 0.20 percent against the British pound. The dollar lost 0.19 percent against euro, and 0.13 percent against the Japanese yen.
Commodities ended the day's trading in a negative note despite oil adding 0.30 percent to close at $99.66 per barrel. Natural gas prices were down 3.11 percent to close at $3.02 per million metric British thermal units. Gold prices were down 1.07 percent to close at $1,547.30 per ounce. Silver prices rose 0.66 percent to settle at $27.42 per ounce.