U.S. shares snap their three-day losses

Source: Dukascopy Bank SA
U.S. equities rebounded from earlier losses this week, as the Federal Reserve extended its bond buying program to bolster economic growth and Eurozone's policy makers weighed options on a bailout plan of Cyprus. The S&P 500 Index rallied 0.7% to 1,558.71. First Solar jumped 5.9% for the biggest increase in the gauge to pace gains in tech shares that were 0.5% up. A gauge of homebuilders rose 3.7%, as the builders are gaining from improved demand for new homes  and lowered mortgage rates. Lennar Corp. added 4.8% after the home builder posted better-than-forecast first-quarter earnings. D.R. Horton climbed 4.6%, while Dollar General Corp. shares were 4.2% higher. On the downside, FedEx Corp. that erased 6.9% to close at $99.13, capping gains in industrial group that added 0.2%. Deere & Co retreated 3.1%, also halting further advance in industrials.

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