Stocks open sharply higher on Wall Street

Associated Press
FILE - In this May 23, 2013 file photo, Trader Thomas Kay, left, works on the floor of the New York Stock Exchange Thursday, May 23, 2013. U.S. stock futures are moving sharply higher Tuesday, May 28, 2013, to start the week after the three-day holiday weekend and ahead of the latest update on the mood of the American consumer. (AP Photo/Richard Drew, File)
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FILE - In this May 23, 2013 file photo, Trader Thomas Kay, left, works on the floor of the New York Stock Exchange Thursday, May 23, 2013. U.S. stock futures are moving sharply higher Tuesday, May 28, 2013, to start the week after the three-day holiday weekend and ahead of the latest update on the mood of the American consumer. (AP Photo/Richard Drew, File)

NEW YORK (AP) — A jump in home prices is helping send the stock market sharply higher in early trading.

The Dow Jones industrial average rose 143 points to 15,447 shortly after the opening bell Tuesday, a gain of 1 percent.

The Standard & Poor's 500 index was up 17 points at 1,666, or 1.1 percent. The Nasdaq composite was up 41 points at 3,500 or 1.8 percent.

Markets were closed Monday for the Memorial Day holiday.

U.S. home prices jumped 10.9 percent in March compared with a year ago, the most since April 2006, according to the Standard & Poor's/Case-Shiller home price index.

Home builder stocks rose after the report came out. Beazer Homes rose 2 percent.

Tiffany rose 6 percent after the jewelry store operator reported earnings gains in all its regions.

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