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Stocks extend gains on home sales data


    NEW YORK (Reuters) - Stocks added to gains on Wednesday after data showed sales of new single-family homes rose in April to their highest level in nearly two years.

    The Dow Jones industrial average increased 119.56 points, or 1.19 percent, to 10,163.31. The Standard & Poor's 500 Index was up 15.06 points, or 1.40 percent, to 1,089.09. The Nasdaq Composite Index added 42.35 points, or 1.92 percent, to 2,253.30.

    Wall Street opened higher on bargain hunting and as U.S. Treasury Timothy Geithner flew to Europe to press for united action to tackle the region's deepening debt crisis.

    (Editing by Jeffrey Benkoe)