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Dollar Stores Bidding War & Homebuilders Help Wall Street Rally

Susannah Lee
8/18/14 12:09 PM EDT
U.S. stocks rallied on Monday as geopolitical tensions appeared to be easing. Tech stocks started the week with broad gains which helped push the Nasdaq higher as well. The home builder sentiment index rose to its highest level in seven months in August. The estimate for the National Association of Home Builders’ Index was for the level to stay unchanged at 53. Homebuilder stocks like KB Home (KBH), Hovnanian (HOV), and Ryland (RYL) are all up sharply. Corporate deals news is helping to lift stocks up in the session. Dollar General (DG) is up almost 10% after outbidding Dollar Tree (DLTR) to buy Family Dollar (FDO). Google (GOOG) acquired start-up software developer, JetPac, which uses information taken from social-media photos to make city guide apps. The details of the deal were undisclosed. The earnings season is still marching on. After the bell we’ll get results from Urban Outfitters (URBN). Wall Street is expecting weak results from the apparel retailer. TheStreet's Susannah Lee has details from New York.
Stock quotes in this video: KBH, HOV, RYL, URBN, DG, FDO, DLTR, GOOG

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