New York  - The Standard & Poor's 500 Index entered positive territory for the year on Monday, as stocks rose across the board on positive real estate data that gave investors added hope for an end to the global recession.

The broad S&P 500 added 29.72 points, or 3.4 per cent, to 907.24, erasing the year's losses and putting it up 0.4 per cent for the year after plunging 38 per cent last year.

Industry figures from the National Association of Realtors showed a 3.2-per-cent increase in contracts to buy previously owned homes in March, while government data showed an increase in construction spending.

The blue-chip Dow Jones Industrial Average gained 214.33 points, or 2.6 per cent, to 8,426.74. The technology-heavy Nasdaq Composite Index gained 44.36 points, or 2.6 per cent, to 1,763.56. The Nasdaq is up 11.8 per cent for the year, while the Dow remains down nearly 4 per cent.

The US currency lost against the euro to 74.58 euro cents from 75.34 euro cents on Friday. The dollar also fell against the Japanese currency to 98.76 yen from 99.12 yen.(dpa)