Stocks posted modest gains Wednesday, but it was enough to propel the Dow and S&P to new 13-month closing highs, as economic data buoyed recovery hopes.

Stocks clawed higher Wednesday after a report showed new-home sales rose more than expected.

Rates on 30-year mortgages dropped in the past week to match a record low set in April, while the 15-year home loan rate fell to a new all-time low, home funding company Freddie Mac said on Wednesday

The holiday crush at the nation’s airports has taken hold several days earlier as travelers sought less expensive flights, the NYT reports.

U.S. consumer sentiment improved slightly in late November from earlier this month, but it was weaker than October on deep anxiety over personal finances, a survey showed Wednesday.

Stocks clawed higher Wednesday after a report showed new-home sales rose more than expected.

There will be a short-term pullback after Thanksgiving in stock markets and there is a 50 percent chance that the US economy will double-dip, according to Paul Schatz, president of Heritage Capital.

Fresh economic reports painted a picture of a gradual economic recovery as consumer spending rose and durable orders unexpectedly fell. The employment picture strengthened as jobless claims tumbled more than expected.

Demand for U.S. home loans slipped last week even as mortgage rates hovered near record lows, the Mortgage Bankers Association said on Wednesday.

US stock index futures climbed further Wednesday after a batch of data signaling that the US economy was building on strength but also that the recovery would be gradual.

The Miles family is changing it up this year in the annual American race to make it to the table for Thanksgiving dinner. Instead of booking plane tickets, they opted to take the 1,100-mile trip by train.

Half of the losses suffered by banks could still be hidden in their balance sheets, more so in Europe than in the US, IMF chief  Dominique Strauss-Kahn was quoted as saying.

President Barack Obama sought to reassure Indian Prime Minister Manmohan Singh on Tuesday of his commitment to boosting U.S. ties with India even as his administration has set its rivals, China and Pakistan, as top priorities.

Crude oil prices rose more than 2 percent Wednesday, supported by lower-than-expected builds in U.S. oil inventories last week, a weak U.S. dollar and gains on Wall Street.

The dollar slid to a fresh 15-month low against a basket of currencies Wednesday as upbeat data on weekly jobless claims, personal consumption, and new home sales bolstered the outlook for the U.S. economy.