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The Journal Gazette

Wednesday, February 27, 2013 5:37 pm

News Summary: Dow surges 175 to high for the year

By The Associated Press

DOW BOUNCE: The Dow Jones industrial average soared 175 points to 14,075, its highest point of the year and just 89 points shy of its record high reached in October 2007. Its two-day gain of 291 points put it back in the black for the week following a 216-point plunge on Monday.

SEEING GREEN: Dollar Tree jumped 11 percent, the biggest gain in the S&P 500 index, after reporting that its quarterly income surged. Dollar General and Family Dollar Stores also rose.

HOME `BULL'-DERS: Another strong report on housing sent home builders higher. A realty group said sales of previously occupied homes surged in January. Hovnanian rose 5 percent, while Lennar and D.R. Horton rose 2 percent.