Stocks Rebound Sharply from Weekly Loss

U.S. stocks started sharply higher Tuesday, ahead of a report on consumer confidence and after another showing the real-estate market picking up speed, with home prices up 10.9% in March from a year ago. The Dow Jones Industrial Average rose 156.9 points to 15,460. The S&P 500 index added 18.26 points to 1,667.86. The Nasdaq Composite gained 39.21 points to 3,498.40.

Investors seized on clear signs of policy support from Japanese and European central banks on Tuesday to drive world shares higher, denting appetite for safe-haven German bonds.

U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006. A growing number of buyers are bidding on a tight supply of homes. The Standard & Poor’s/Case-Shiller home price index released Tuesday also showed that all 20 cities measured by the report posted annual gains for the third straight month.

Tiffany & Co. reported a 3 percent increase in first-quarter net income, fueled by solid sales improvement across the regions, particularly in Asia. The high-end jewelry company known for its blue boxes earned $83.6 million, or 65 cents per share, for the period ended April 30. That’s up from $81.5 million, or 64 cents per share, a year ago.

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