Dow spikes to 13-month high

A better-than-expected housing market report, a weak dollar and a surge in commodities are pushing the market to new 2009 highs.

NEW YORK (CNNMoney.com) — Stocks surged Monday, with the Dow touching its highest point in more than a year, on a strong housing report and a rally in commodities.

The dollar’s initial weakness versus the euro helped lift gold to another record, putting the precious metal within $36 of $1,200 an ounce. However, the dollar staged a comeback by the early evening.

The Dow Jones industrial average (INDU) gained 133 points, or 1.2%, closing at 10,450.95, its highest point since October 2, 2008. The Dow rose as much as 177 points in the morning, hitting 10,495.61 — the highest trading level since Oct. 3, 2008.

The Nasdaq composite (COMP) climbed 30 points, or 1.4%, closing short of a 13-month high hit last week. The S&P 500 (SPX) jumped 15 points, or 1.4% but ended short of its 13-month high hit last week.  This is great. Small business that are a fresh start will need business checks to help them grow.