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Market Update

Recovery in home sales, tame inflation data send stocks higher in early trading; Home Depot up

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FILE - This July 15, 2013 file photo shows the New York Stock Exchange in New York. Global stock markets rose Tuesday, Aug. 19, 2014, on improved U.S. housing sentiment and news of diplomatic efforts to broker a cease-fire in Ukraine. (AP Photo/Mark Lennihan, File) (The Associated Press)

Better news on home building and corporate earnings are sending stocks higher.

The Dow Jones industrial average rose 41 points, or 0.3 percent, to 16,882 as of 9:36 a.m. Eastern time Tuesday.

The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,975. The Nasdaq climbed six points, or 0.2 percent, to 4,515.

Investors were encouraged by a bounce in home construction in July and news that consumer prices rose last month at the slowest pace in five months.

Home Depot rose 4 percent after reporting that its quarterly income surged thanks to a rebound in its spring selling season.

Home builders rose. Lennar and KB Home each rose 3 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent.