A surge in new home sales lifted the markets to a higher close with the Dow climbing 100 points to 10,525. Nasdaq soared 26 points to 2296.

On the upside

Shares of Level 3 (Nasdaq: LVLT) rose ahead of its earnings release tomorrow.

The Food and Drug Administration approved a higher dose version of Pfizer's (NYSE: PFE) and Eisai's Alzheimer's treatment Aricept.

Advanced Micro Devices (NYSE: AMD) will sell $500 million in senior notes through a private offering.

General Electric (NYSE: GE) received the final environmental permit to build its $100 million advanced battery plant in New York.

Unexpectedly strong new home sales lifted share of Comstock Homebuilding Companies (Nasdaq: CHCI).

Shares of Regions Financial (NYSE: RF) climbed ahead of its earnings report tomorrow morning.

In the broad market, advancing issues outpaced decliners by a margin of more than 7 to 2 on the NYSE and by more than 3 to 1 on Nasdaq. The Russell 2000 which tracks small cap stocks soared 14 points to 665.