U.S. stocks jumped nearly one percent on Tuesday after a long holiday weekend, buoyed by upbeat U.S. economic data and a general rally in global markets.

The main stock indices opened sharply higher on robust housing data. U.S. home prices in March posted their highest annual gain since 2006, according to a report released Tuesday by S&P Dow Jones Indices. The S&P/Case-Shiller 20-City Composite for March rose 10.9 percent year on year, with all 20 cities posting positive year-over-year growth.

The market was also bolstered by a strong Conference Board Consumer Confidence Index, which jumped to 76.2 in May from the revised-up figure of 69.0 in the prior month. The May reading marked the highest level since February 2008, a report showed Tuesday.

A rebounding in stock markets outside the United States also added to the positive market sentiment, as top officials of the Bank of Japan and the European Central Bank reiterated that their easing policies would remain in place.

Wall Street snapped a four-week gaining streak last week amid worries that the Federal Reserve may reduce stimulus in advance.

In corporate news, shares of Valeant Pharmaceuticals International Inc. surged 7.90 percent to 91.14 U.S. dollars a share in midday trading after the company announced Monday it would acquire Bausch & Lomb Holdings Inc. for 8.7 billion dollars.

Tiffany & Co. shares gained 3.28 percent to 78.71 dollars a share in midday trading after the luxury jeweler reported better- than-expected earnings in the first quarter of this yea.

In midday trading, the Dow Jones Industrial Average surged 155. 51 points, or 1.02 percent, to 15,458.61 points. The broader S&P 500 leapt 15.80 points, or 0.96 percent, to 1,665.40 points. The Nasdaq Composite Index soared 39.63 points, or 1.15 percent, to 3, 498.77 points. Endite

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