Wall Street ends at new 2009 highs

       US stocks ended the week at 2009 highs on Friday after a surprising rise in home sales and optimistic comments from Federal Reserve chief Ben Bernanke reassured investors about the prospects for an economic recovery.
       The S&P 500 and the Nasdaq hit 10-month intra-day highs, while the Dow industrials rose to their highest level in nine months. The S&P 500 is now up 51.7% from its 12-year closing low set on March 9.
       At the Fed's annual conference in Jackson Hole, Wyoming, Mr Bernanke gave his clearest signal yet that the global economy is emerging from a recession.But the Fed chairman warned that growth would be sluggish for a time.
       "The home sales data got the market rolling, but Bernanke really persuaded investors to [keep up] the rally," said John Augustine, chief investment strategist atFifth Third Asset Management in Cincinnati.
       "His comment was optimistic, but also prudent about the quantitative easing ending sometime. But the market took it all as good news."
       The Dow Jones industrial average jumped 155.91 points, or 1.67%, to end at 9,505.96. The Standard & Poor's 500 Index climbed 18.76 points, or 1.86%, to 1,026.13. The Nasdaq Composite Index rose 31.68 points, or 1.59%, to 2,020.90.
       For the week, the Dow rose 2%, the S&P 500 gained 2.2% and the Nasdaq climbed 1.8%.
       A stunning 7.2% jump in the July sales of previously owned homes gave stocks a shot of adrenaline. Among the big US home builders, D.R. Horton advanced 3.4% to $12.66, while Toll Brothers gained 3.7% to $22.70.
       The Nasdaq's advance was led by Apple Inc, up 1.7% at $169.22, and Microsoft Corp, up 3.1% at $24.41. Energy shares also grabbed the spotlight.Chevron advanced 1.6% to $69.73 and Exxon Mobil gained 1.9% to $69.92.