US stocks edge higher as home-builder hopes rise

US stocks edge higher as home-builder hopes rise

US stocks closed slightly higher as investors weigh mixed news on the economy.

The Dow Jones industrial average rose 67 points, or 0.4%, to end at 17,545 on Monday. The Standard & Poor’s 500 index gained 10 points, or 0.5%, to 2,102. The Nasdaq composite climbed 43 points, or 0.9%, to 5,091.

Stocks fell early on a report showing manufacturing activity in New York state contracted in August at the fastest pace since the Great Recession.

But an index of home-builder sentiment showed optimism at its highest level since the housing boom a decade ago.

Prices of US government bonds rose, tugging down the yield on the 10-year Treasury note to 2.17% from 2.20% late on Friday.


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