Stocks add to gains after April home sales jump

NEW YORK (AP) — Stocks rose today after gains in durable goods orders and home sales helped reassure traders that a rebound is occurring.

The Dow Jones industrial average rose about 100 points in morning trading after recovering from a intraday loss of nearly 300 points Tuesday to end down by 22.

The comeback was stoked by comments from congressional leaders saying they wouldn't push for banks to spin off their lucrative trading desks as part of financial regulation reform.

The recovery on Tuesday gave traders a break from persistent worries about European government debt and allowed them to focus on economic news.

The durable goods report gave investors further evidence the U.S. economy is improving. The Commerce Department said orders for big-ticket manufactured goods rose 2.9 percent last month, more than double the 1.3 percent gain forecast by economists polled by Thomson Reuters. It was the biggest jump in orders in three months.