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US futures rise; Dow closes in on record high

Tuesday - 3/5/2013, 9:40am  ET

In this Monday, Feb. 25, 2013 photo, Trader Craig Spector, right, works on the floor of the New York Stock Exchange. World stock markets rose Tuesday March 5, 2013 as investors registered approval for China's spending priorities announced at its annual congress. (AP Photo/Richard Drew)

NEW YORK (AP) -- U.S. stock futures are rising after a volatile start to the week and the Dow is again within striking distance of an all-time closing high.

Dow Jones industrial futures are up 31 points to 13,147. S&P futures have added 4 points to 1,529.70. Nasdaq futures are up 11.5 points to 2,771.50.

Futures do not necessarily foretell which way the market will go at the opening bell, but there are catalysts for a run at the market peak reached in October 2007, just before the recession hit.

Home prices rose 9.7 percent in January from a year ago, according to data released Tuesday by CoreLogic. That's the biggest annual gain since April 2006.

The U.S. housing market may be hitting its stride just ahead of the spring selling season.


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