US futures rise; Dow closes in on record high

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Associated Press

Posted on March 5, 2013 at 9:34 AM

Updated Tuesday, Mar 5 at 10:30 AM

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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