Investing.com - U.S. stocks edged up higher on Monday, tracking gains in commodities markets that hiked demand for shares in energy, mining and earthmoving companies amid a quiet trading session.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.14%, the S&P 500 index rose 0.47%, while the Nasdaq Composite index rose 0.86%.
Commodities rose earlier, with gold, oil and other prices gaining amid sentiment that recent selloffs sent prices falling too far.
Bargain hunting in commodities markets sparked demand for stocks in the companies that unearth them, which brought up equities indices in general despite softer-than-expected data out of the housing sector.
The National Association of Realtors reported earlier that U.S. existing home sales fell 0.6% to 4.92 million units in March compared to February’s revised total of 4.95 million.
February existing home sales initially came in at 4.98 million units.
Analysts were expecting U.S. existing home sales to rise to 5.01 million units in March.
The figures fueled talk that the Federal Reserve won't rush to dismantle its bond-buying program and other stimulus tools already in place.
Loose monetary policies send stocks rising as a side effect, which added to Monday's buying spree.
Leading Dow Jones Industrial Average performers included Microsoft, up 3.53%, Caterpillar, up 2.66%, and DuPont, up 2.48%.
The Dow Jones Industrial Average's worst performers included General Electric, down 1.84%, UnitedHealth Group, down 1.37%, and Boeing, down 1.17%.
European indices, meanwhile, finished largely higher.
After the close of European trade, the EURO STOXX 50 rose 0.33%, France's CAC 40 rose 0.09%, while Germany's DAX 30 finished up 0.24%. Meanwhile, in the U.K. the FTSE 100 finished down 0.09%.
On Tuesday, the U.S. will unveil official data on new home sales as well as preliminary data on manufacturing activity.
At the close of U.S. trading, the Dow Jones Industrial Average finished up 0.14%, the S&P 500 index rose 0.47%, while the Nasdaq Composite index rose 0.86%.
Commodities rose earlier, with gold, oil and other prices gaining amid sentiment that recent selloffs sent prices falling too far.
Bargain hunting in commodities markets sparked demand for stocks in the companies that unearth them, which brought up equities indices in general despite softer-than-expected data out of the housing sector.
The National Association of Realtors reported earlier that U.S. existing home sales fell 0.6% to 4.92 million units in March compared to February’s revised total of 4.95 million.
February existing home sales initially came in at 4.98 million units.
Analysts were expecting U.S. existing home sales to rise to 5.01 million units in March.
The figures fueled talk that the Federal Reserve won't rush to dismantle its bond-buying program and other stimulus tools already in place.
Loose monetary policies send stocks rising as a side effect, which added to Monday's buying spree.
Leading Dow Jones Industrial Average performers included Microsoft, up 3.53%, Caterpillar, up 2.66%, and DuPont, up 2.48%.
The Dow Jones Industrial Average's worst performers included General Electric, down 1.84%, UnitedHealth Group, down 1.37%, and Boeing, down 1.17%.
European indices, meanwhile, finished largely higher.
After the close of European trade, the EURO STOXX 50 rose 0.33%, France's CAC 40 rose 0.09%, while Germany's DAX 30 finished up 0.24%. Meanwhile, in the U.K. the FTSE 100 finished down 0.09%.
On Tuesday, the U.S. will unveil official data on new home sales as well as preliminary data on manufacturing activity.