* Wall St boosted by Home Depot results, housing data
* Dollar jumps as euro dips to 9-month low
* Oil at 14-month low
(Adds late, closing prices, quotes)
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 will remain accommodative.
The dollar climbed smartly as the euro sank to a nine-month
low against the greenback. U.S. Treasuries yields rose.
Bolstered by strong profits from home-improvement retailer
Home 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 80.85 points,
or 0.48 percent, to 16,919.59, the S&P 500 gained 9.86
points, or 0.5 percent, to 1,981.6 and the Nasdaq Composite
added 19.20 points, or 0.43 percent, to 4,527.51.
"The market has enjoyed a retreat from geopolitical
tensions, and we're seeing sectors that we were concerned about
lagging, like housing and consumer discretionary, gaining, which
is positive," said Quincy Krosby, market strategist at
Prudential Financial in Newark, New Jersey.
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. It ended at $100.53 for
the day, up $1.37.
The MSCI All Country Index was up 0.46
percent at 428.37.
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 encouraged by economic news while on alert for
central banker comments for indications of interest rate moves
after years of rock-bottom benchmark borrowing rates.
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 fleeting
boost. Benchmark 10-year Treasuries fell 4/32 of a
point in price to yield of 2.40 percent.
The 30-year bond dropped 10/32 of a point in
price, pushing the yield up to 3.21 percent.
U.S. crude oil and Brent crude futures
dropped after giving up early gains as recovering Libyan output,
sustained Iraqi production and weak demand offset concerns about
threats to supply. Brent touched 14-month lows at $101.17, but
traded late off just 4 cents at $101.56. U.S. crude finished at
$94.48, down 2 percent.
Investors looked 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 on Friday at
a gathering of central bankers in Jackson Hole, Wyoming.
"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)