US STOCKS-Market climbs on homebuilder forecast, China data

                                

                                
 * Toll Brothers forecasts higher revenue
                                
 * Chinese factory output surges to 19-month high
                                
 * Fed officials suggest rates will stay low for some time
                                
 * Indexes up: Dow 0.4 pct, S&P 0.5 pct, Nasdaq 0.7 pct
                                
 * For up-to-the-minute market news, click [STXNEWS/US]
 (Updates to close)
                                
 By Caroline Valetkevitch
                                
 NEW YORK, Nov 11 (Reuters) - The Standard & Poor's 500
index closed at a fresh 13-month high on Wednesday as an upbeat
forecast from a top homebuilder and data from China pointed to
a strengthening global economy.
                                
 The Dow also closed at a 13-month high, rising for sixth
straight day, with comments from top Federal Reserve officials
suggesting low interest rates will stay for some time added to
the positive tone.
                                
 Luxury homebuilder Toll Brothers Inc <TOL.N> late Tuesday
forecast revenue that was sharply higher than expected, lifting
the Dow Jones homebuilders index <.DJUSHB> 7.1 percent. Toll
jumped 16.4 percent to $21.41.
                                
 Data before the open showed Chinese factory output rose to
a 19-month high in October. Investors bet the data heralded
growing demand in the world's third-largest economy.
[ID:nPEK212006].
                                
 Shares of Wal-Mart <WMT.N>, up 1.3 percent at $52.97, gave
the biggest lift to the Dow, which recorded its longest winning
streak since August.
                                
 "There was fairly bullish news coming from China with
respect to its industrial production, which has exerted upward
pressure on commodities and commodity-related stocks," said
Matt Kaufler, portfolio manager and equity analyst at Clover
Capital Management in Rochester, New York.
                                
 The Dow Jones industrial average <.DJI> was up 44.29
points, or 0.43 percent, at 10,291.26. The Standard & Poor's
500 Index <.SPX> was up 5.50 points, or 0.50 percent, at
1,098.51. The Nasdaq Composite Index <.IXIC> was up 15.82
points, or 0.74 percent, at 2,166.90.
                                
 Volume was light due to the Veterans Day holiday. Federal
offices and the U.S. bond market closed for the day.
                                
 Fed comments from Tuesday that the U.S. recovery would be
bumpy bolstered the view that rates will stay low and economic
stimulus will remain intact, a boon for stocks.
[ID:nN10315173].
                                
 "Investors were waiting to see when all the stimulus would
be withdrawn and what would happen then. Now, they think
stimulus won't be withdrawn for a lot longer than they used
to," said Michael Pento, senior market strategist at Delta
Global Advisors.
                                
 Dragging on the market, Macy's Inc <M.N>, the department
store operator, tumbled 8.1 percent to $17.86 after the company
gave a gloomy outlook on same-store sales for the fourth
quarter. [ID:nWNAB4388].
 (Additional reporting by Ryan Vlastelica; Editing by Kenneth
Barry)