Wall Street closes stronger

US stocks buoyed by easing concerns over Crimea's secession, upbeat housing data also lifts investor sentiment.

United States stocks have barrelled higher despite Russia's move to absorb Crimea following a controversial weekend vote by the region to secede from Ukraine.

The market was also helped by upbeat housing market data.

At the closing bell, the Dow Jones Industrial Average climbed 88.97 points, or 0.55%, to 16,336.19 points.

The S&P 500 index advanced 13.42 points, or 0.72%, to 1,872.25 and the Nasdaq Composite Index gained 53.36 points, or 1.25%, to 4,333.31.

On Monday, the Dow rallied 182 points, or 1.1%, to snap a five-session losing streak.

Russian President Vladimir Putin signed a treaty making Crimea part of Russia, heightening tensions with Western Europe and the United States, which accused Moscow of an illegal land grab.

But Mr Putin also said that Russia had no designs on a larger break-up of Ukraine

Peter Cardillo, chief market economist at Rockwell Global Capital, said the latest Ukraine news has not been surprising.

"The market is not that nervous at this time," Mr Cardillo said.

Investors are looking ahead to Wednesday's conclusion of a two-day policy meeting at the US Federal Reserve.