Sector Snap: Construction Materials Suppliers Gain

NEW YORK (AP) — Shares of construction materials suppliers rose Tuesday after news that April's pending home sales jumped in the metric's third-consecutive monthly gain and its biggest advance in nearly eight years.

That news follows better-than-anticipated data on construction spending Monday which sent the Dow and other major indexes up more than 2 percent.

The National Association of Realtors said its seasonally adjusted index of sales contracts signed in April rose 6.7 percent to 90.3. Economists surveyed by Thomson Reuters expected the index would edge up to 85 from a reading of 84.6 in March. It was the biggest monthly jump since October 2001. ...