U.S. stocks are trading higher at midday after a pair of encouraging reports about the housing market.
The National Association of Realtors said Wednesday that home sales rose in August to the highest level since May 2010. The government said construction of single-family homes also jumped to the fastest pace in more than two years.
Stocks overseas closed higher after the Bank of Japan announced a massive asset purchasing plan similar to what the Federal Reserve approved last week. Japan's main stock index hit a four-month high.
The Dow Jones industrial average is up 48 points at 13,612. The Standard & Poor's 500 index is up five at 1,463. The Nasdaq composite index is up four at 3,182.