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Rebound Continues for S&P, NASDAQ

The S&P 500 and NASDAQ Composite rose Tuesday, as the two benchmarks tried to build on their strong gains from the previous session.

The Dow Jones Industrials retreated 31.13 points to begin Tuesday at 34,432.56.

The much broader index gained 5.94 points to 4,405.71.

The tech-heavy NASDAQ index acquired 47.44 points to 13,545.03.

Energy outperformed to lead the S&P 500 higher. Meanwhile, Lowe’s shares rose 2% after the company posted mixed results but reaffirming its full-year guidance. Hasbro was the best-performing S&P 500 stock, advancing more than 7%.

Home sales declined at a faster pace than expected in July as prices pushed higher, the National Association of Realtors reported Tuesday.

Existing sales dropped 2.2% from June, against the Dow Jones estimate for a 0.2% decline. Sales totaled 4.07 million, against the estimate for 4.15 million, and were off 16.6% from a year ago.

Prices for the 10-year Treasury were static, keeping yields at Monday’s 4.34%.

Oil prices inched higher six cents to $80.78 U.S. a barrel.

Gold prices muscled higher $2.20 to $1,920.80 U.S. an ounce.

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