From NPR News in Washington, I’m Lakshmi Singh.

 

　　The Dow Jones Industrial Average has scaled record intra-day high. At last glance, we see the Dow up 134, nearly one percent at 14,262. It exceeded levels last seen in October, 2007 and has gained nearly nine percents so far this year. Investors are encouraged in part by growth in the U.S. service sector. Last month, it grew at its fastest pace in a year. The market’s rally is also driven by the Federal Reserve’s monetary easing policies and not to be ignored as the rebound in housing. NPR’s Dave Mattingly reports home prices rose sharply in January.

 

　　Home prices rose nearly 10 percent as compared to January of last year. The largest gains were seen in Arizona and Nevada. Among big cities, the sharpest jumps were in Phoenix and Los Angeles. Molly Boesel is a senior economist at CoreLogic.

 

　　“In the west, it’s mostly the institutional investors coming in and grouping up to start properties and increasing the prices in the distressed area which is pushing up prices in those cities.”

 

　　Boesel says home prices should continue rising this year as buyer-demand increases and inventories remain tight. Dave Mattingly, NPR News, Washington.

 

　　Days after across-the-board spending cut took effect, the country’s top military commander in the Middle East says the forces stand ready to take action despite budget uncertainties.

 

　　“If the president orders us into action, I have what it takes to make it the enemy’s longest day and their worst day.”

 

　　General James Mattis, head of U.S. Central Command, testifying before the Senate Armed Services Committee today. He also told the panel he envisions about 20,000 troops remaining in Afghanistan after a 2014 withdrawal deadline.

 

　　At the United Nations, the U.S. has circulated a draft U.S.-China sanctions resolution in response to North Korea’s third and most powerful nuclear test February 12, which was a violation of U.N. measures. Linda Fasulo reports U.S. ambassador Susan Rice told reporters that the draft measure would impede North Korea’s ability to further develop its illegal nuclear and ballistic missile programs.

 

　　Rice said that for the first time the proposed sanctions will target illicit actions by North Korea’s diplomats, banking relations and illicit transfers of bulk cash. New travelling restrictions would be imposed on key officials. The U.S. ambassador described the proposed U.S.-China-backed measure as exceptionally strong and aimed at getting North Korea to comply with its international obligations.

 

　　“The resolution table today will take the U.S. sanctions imposed on North Korea to the next level.”

 

　　Meanwhile, China’s envoy said it was necessary to send a strong signal to Pyongyang over its nuclear test. Diplomats expect a vote to come this week. For NPR News, I’m Linda Fasulo in New York.

 

　　Dow is up 136 at 14, 265. This is NPR.

 

　　Another massive snowstorm is sweeping across the nation’s mid-section causing a new round of headaches for residents, especially those who had planned to travel today. The pain is being felt this hour in the Chicago area where the city could get its biggest snowfall since 2011. Airlines have cancelled about 1,000 flights in and out of the city. They are anticipating more. From member station WBEZ in Chicago, Lauren Chooljian has the latest.

 

　　Meteorologist say the city could see four-to-eight inches of snowfall by tonight. The last time there was a day of heavy snowfall here was in February, 2011, a day many Chicagoans remember well as snowpocalypse or snowmageddon.

 

　　“Dozens of cars stranded.”

 

　　“Firefighters travelled on 50 snowmobiles to help stranded drivers.”

 

　　“This is like a winter hurricane.”

 

　　But meteorologist David Beachler from the National Weather Service says not to worry.

 

　　“That was a very robust and very dynamic blizzard event. This is gonna be more of a traditional winter storm that’s bringing heavy snowfall to the area.”

 

　　For NPR News, I’m Lauren Chooljian in Chicago.

 

　　The storm is projected to move east tomorrow over the Ohio valley into the Mid-Atlantic States. The Washington D.C. area could see its worst storm yet this season.

 

　　The Vatican is awaiting the arrival of five more cardinals before it sets the date for a conclave to elect a new pope. Benedict XVI resigned last month as head of the Roman Catholic Church, the first time that had happened in 600 years.

 

　　U.S. stocks are up with the Dow gaining 136 at nearly one percent at 14,264. Nasdaq up more than one percent at 3,218. And the S&P 500 up nearly one percent at 1,540.

 

　　This is NPR.