Business

Snapshot

Earnings, housing news lift US stocks

Advertisement

Strong housing and earnings reports helped stocks rebound from their worst day of the year. The Dow rose 157.58 points on Tuesday, winning back more than half of its loss a day earlier. The S&P 500 logged its second-best day of the year. Home construction topped 1 million last month, the highest level since June 2008. Robust earnings from companies including Coca-Cola also propelled the market higher. Worries about an economic slowdown in China led to a drop in prices for oil, copper, and other commodities, causing mining and energy stocks to fall. Gold, which was at the epicenter of Monday’s sell-off, rose 1.9 percent to $1,387.40 an ounce.

Loading comments...
Real journalists. Real journalism. Subscribe to The Boston Globe today.