U.S. stocks rose, led by energy companies and small-cap shares, as data showing improvements in the American economy overshadowed concern over weaker growth overseas.

The Standard & Poors 500 Index rose 0.2 percent to 2,052.68 at 4 p.m. in New York, erasing an earlier loss. The Russell 2000 Index of smaller companies climbed 1.1 percent.

Purchases of previously owned U.S. homes unexpectedly rose in October to a one-year high as low borrowing costs helped sustain the recovery in residential real estate. Other data showed fewer Americans filed for unemployment benefits last week as the need to retain staff keeps firings at the lowest levels in more than a decade.

Copy Source: Bloomberg