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Stocks Get Lift From Surge in New Home Sales

Stocks held onto solid gains by mid-morning Tuesday after new home sales in the U.S. hit an eight-year high.

The S&P 500 was up 0.44%, the Dow Jones Industrial Average climbed 0.36%, and the Nasdaq gained 0.5%. Nasdaq hit an intraday record high during the session.

The number of newly constructed homes sold in the U.S. reached 654,000 in July, up 12.4% at a seasonally adjusted rate, according to the Commerce Department. The reading topped economists' forecasts of 581,000. New home sales...


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