IBT Staff Reporter

U.S. stocks rallied on Thursday, sending the Dow industrials above the key 9,000 mark for the first time since January, as strong second-quarter earnings and improving home sales data fueled economic recovery hopes.

Katie Holmes will perform a song-and-dance tribute to Judy Garland Get Happy from the musical Summer Stock tonight the Fox TV network show So You Think You Can Dance at 10:00 p.m. EDT.

Porsche conceded defeat in a months-long power struggle with Volkswagen Thursday by axing its embattled CEO, paving the way for VW to merge with the maker of the 911 sportscar.

Iron Man is in the spotlight at this year's comic book convention Comic-Con, getting a grip on fans not just of comics and movies but also video games.

Advanced Micro Devices (NYSE: AMD), producer of computing and graphics solutions, readied its graphics drivers for the new operating system from Microsoft Corporation.

U.S. existing home sales notched their third monthly rise in June in a sign the housing industry was slowly healing, but new jobless claims rose last week in a move distorted by unusual seasonal layoffs.

U.S. existing home sales notched their third monthly rise in June and prices hit their highest level since October, fueling hopes that the housing sector is finally on the mend and will help propel a broader economic recovery.

Home sales heat up, Dow breaks 9,000, Ford reports profit

The chances that Canada's Research in Motion will enter a formal bid for the wireless assets of bankrupt Nortel Networks are slim as a bidding war develops for technology coveted by the world's leading telecom-equipment makers.

Stocks rallied on Thursday, with the Dow industrials piercing the key 9,000 mark, as investors viewed strong quarterly results from 3M & Co and other companies, plus improving home sales data as signs the economy is stabilizing.

McDonald's Corp reported light June same-store sales on Thursday and shares fell 3.8 percent after the top-performing restaurant chain only matched Wall Street's profit view.

Solar maker First Solar Inc. and EDF Energies Nouvelles - half owned by France's state owned utility - will venture to build what the companies call the largest solar panel manufacturing plant in France, representing an expected investment of 90 million euros ($128 million), they said in a statement Thursday

On Wednesday, Qualcomm Incorporated (Nasdaq: QCOM) -- developer and innovator of advanced wireless technologies, products and services -- reported its third Quarter Fiscal 2009 Results.

AT&T Inc posted a smaller-than-expected drop in quarterly profit as strong sales of Apple Inc's iPhone helped boost wireless subscriber growth. Some analysts are concerned that the company's dependence on the iPhone for much of its growth raised concerns about what would happen if it lost its exclusive rights to sell the phone in the U.S.

Spot iron ore vessel bookings from Brazil to China jumped to a record in July as Australia suspended spot sales following detentions of Rio Tinto's top sales officials in China and as falling freight costs made longer haul trade attractive.

US Airways Group on Thursday reported a second-quarter net profit, reversing a year-ago loss and beating expectations on lower fuel costs, but said it is not counting on a quick rebound in travel demand.

The National Association of Realtors (NAR) on Thursday announced that sales of existing homes in the U.S. rose for the third consecutive month in June, suggesting that the troubled housing market may be hitting bottom, private data showed Thursday. According to the NAR, existing home sales rose to an annualized rate of 4.89 million units which is above the 4.84 million units analysts were expecting. This is fueling hopes that housing and the overall economy is showing signs of recovery.

With previously owned home sales rising for the third straight month, the chief economist at a major realty group says the trend will continue due to tax breaks and the high affordability.

After comfy-shoe hunters were bowled over by the Crocs, a new shoe called Vibram FiveFinger shoes, is already starting to lure consumers interest.

US Airways Group on Thursday reported a second-quarter net profit, reversing a year-ago loss on lower fuel costs, but said it is not counting on a quick rebound in travel demand.

Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to gains from a $10 billion debt-reduction plan, and said it was on track to at least break even in 2011, sending its shares up 10 percent.

Ford Motor Co posted a $2.3 billion quarterly net profit, mainly due to gains from a $10 billion debt-reduction plan, and said it was on track to at least break even in 2011, sending its shares up 10 percent.

Sales of previously owned homes in the United States increased at a faster-than-expected annual pace in June, an industry survey showed on Thursday, in the third straight month of gains.

An unusually robust rise in home prices from April to May could foreshadow a recovery in many U.S. housing markets, according to a report released on Thursday by Radar Logic, a real estate data and analytics company.

Stocks rose on Thursday, with the Dow industrials breaking the key 9,000 mark, as investors saw strong quarterly results, including from 3M Co , and improving home sales data as signs the economy is stabilizing.

The number of U.S. workers filing new claims for jobless benefits rose roughly as expected last week, but the data was distorted by an unusual pattern of layoffs in the automotive industry.

AT&T Inc on Thursday posted a smaller-than-expected drop in quarterly profit as strong sales of Apple Inc's iPhone helped boost wireless subscriber growth.

Yahoo acquired Xoopit social photo management service, first developed as an add-on for Google's Gmail, the company announced late Wednesday.

The new pandemic H1N1 is causing a brisk flu season in the Southern Hemisphere and U.S. health officials said on Thursday they want to move swiftly to approve a vaccine to battle it.