Existing Home Sales, Oil Jump

Sales of existing U.S. homes increased 10.1 percent in October to a seasonally adjusted annual rate of 6.10 million, the National Association of Realtors estimated Monday. The rate was the highest since February 2007.

Sales were up 23.5 percent from the same time last year. Every region in the country experienced a pick-up. Meanwhile, the national median home price fell 7.1 percent to $173,100 in October compared to the same time last year.

The greenback and oil futures also rose on Monday. Crude-oil futures gained $2.18, or 2.8%, to $79.65 a barrel as Iran started five days of large-scale war games, heightening global political tensions amid worries that oil supplies might be disrupted.

Also helping oil higher: The U.S. dollar tumbled after a Federal Reserve official called for an extension of the central bank's asset-purchase plan beyond its planned expiration date. A weaker dollar tends to push up dollar-denominated commodities prices such as oil.



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