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Stocks Close Higher, Extend Rally on Strong Housing Data, Positive Earnings

Wall Street put in another impressive performance on Tuesday as the environment of low inflation, a strong housing market, and upbeat corporate earnings drove equities higher for a second straight day. Gains in nearly every sector elevated the Nasdaq Composite to a new 14-year high and moved the S&P 500 closer to key resistance at 2,000. The Dow Jones Industrial Average pierced its 50-day moving average largely on strength in Dow component Home Depot ( HD ). The home-improvement retailer reported better-than-expected Q2 earnings and raised its full-year earnings guidance.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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