* Wall St boosted by Home Depot results, housing data
* Dollar jumps as euro dips to 9-month low
* Oil at 14-month low
(Adds Treasuries decline, updates prices)
By Michael Connor
NEW YORK, Aug 19 Wall Street got a lift from the
U.S. housing sector and extended a global stock markets rally on
Tuesday as investors shifted focus from political crises to
expectations monetary policy likely will remain accommodative.
The dollar climbed smartly as the euro sank to a nine-month
low against the greenback. U.S. Treasuries yields edged up.
Bolstered by strong profits from home-improvement
retailerHome Depot, as well as U.S. housing and economic
data, Wall Street gained as equities worldwide neared multi-year
highs after the past month's jitters over conflicts in Ukraine,
Iraq and Gaza. ID:nL5N0QP0AU]
The Dow Jones industrial average rose 74.31 points,
or 0.44 percent, at 16,913.05. The Standard & Poor's 500 Index
was up 8.56 points, or 0.43 percent, at 1,980.30. The
Nasdaq Composite Index was up 15.26 points, or 0.34
percent, at 4,523.57.
Apple Inc hit $100 for the first time since its
seven-for-one stock split in June, giving the iPhone maker a
market capitalization over $600 billion.
The MSCI All Country Index was up 0.40
percent at 428.12.
The FTSEurofirst 300 index of top European shares
ended up 0.57 percent, led by gains in Germany, where the
blue-chip DAX index was up just under 1 percent.
Traders were keeping a wary watch on economic data and
central banker comments for indications of interest rate moves
after years of rock-bottom benchmark borrowing rates.
"The situation in Ukraine is still very tense, but slowly
investors are getting used to it and turning their focus back on
the macro and micro data, and earnings have been quite good,"
said Arnaud Scarpaci, fund manager at Montaigne Capital.
The dollar rallied, benefiting from U.S. economic data and
the euro zone's current account surplus in June. The euro dipped
to a nine-month low of $1.3314. The U.S. dollar index
rose 0.37 percent to a high last seen nearly a year ago.
U.S. housing starts rebounded strongly in July, pointing to
economic momentum. Groundbreaking surged 15.7 percent last month
to a seasonally adjusted 1.09 million annual unit pace, after
two straight months of declines.
Separately, the Labor Department said its U.S. Consumer
Price Index edged up 0.1 percent last month as declining energy
costs partially offset increases in food and rents. The CPI had
increased 0.3 percent in June.
The benign inflation data gave Treasuries prices a boost
that then petered out and left prices off or unchanged in
early-afternoon New York trade. The bellwether 10-year note
was off 3/32 in price and yielding 2.398 percent.
German 10-year bund yields hovered near 1.0
percent, just above record lows hit at the end of last week,
while yields on lower-rated bonds dipped.
U.S. crude oil and Brent crude futures were
down after giving up early gains as recovering Libyan output,
sustained Iraqi production and weak demand offset concerns about
threats to supply. Brent was at 14-month lows at $101.35, off 25
cents. U.S. crude was last at $95.89, down 52 cents.
Investors were looking ahead to Wednesday, when the Federal
Reserve releases minutes from the July 29-30 Fed policymaking
meeting, as well as Fed Chair Janet Yellen's speech at a
gathering of central bankers in Jackson Hole, Wyoming on Friday.
"In the minutes, people will be looking for an exit
strategy, but given data we have had, no one is expecting it to
come sooner than previously expected. Fed futures are looking to
September 2015 and expectations in the market come around that
time frame, which is late 2015," said Thomas Simons, money
market economist at Jefferies LLC in New York.
(Reporting by Michael Connor; additional reporting by Daniel
Bases, Sam Forgione and Chuck Mikolajczak in New York; Editing
by Dan Grebler)