Daily Market Wrap: May 22, 2012
May 22, 2012 at 16:04 PM EDT
A positive housing report sent stocks higher today, but investors remained cautious as Japan's credit rating was downgraded by Fitch on fears over government debt. The National Association of Realtors is reporting a 3.4 percent increase in existing home sales in April to an annual rate of 4.62 million units, which is better than economists expected.