U.S. stocks’ gains build on housing data Europ

U.S. stocks’ gains build on housing data
European summit ahead, leaving Wall Street on tentative ground
NEW YORK (MarketWatch) — U.S. stocks rose Tuesday, with consumer discretionary and energy companies gaining on signs of stabilization in housing but investors still on shaky ground ahead of a summit of European leaders.

“Housing is bucking the trend, and that speaks to better confidence among consumers. Home builders and energy are getting a bounce on the idea household demand for gasoline may not be as weak,” said Jeffrey Kleintop, chief market strategist at LPL Financial.

“We’d like to be more optimistic, but we’re not expecting anything definitive out of this, which is a problem,” John De Clue, chief investment officer at U.S. Bank Wealth Management, said of a gathering of European leaders. “The pattern has been interesting ideas are put forth, but then in peeling the onion, they are difficult to institute in reality.”

After rising as much as 74 points and falling 50, the Dow Jones Industrial Average (DJI JIA) ended at 12,534.6, up 32.01 points, or 0.3%, to 12,534.67, with Chevron Corp. (NYSE:CVX) pacing the gains.

The S&P 500 Index (SNC:SPX) added 6.27 points, or 0.5%, to 1,319.99, with consumer discretionary and energy companies faring best among its 10 industry groups.

The Nasdaq Composite (NASDAQ:COMP) climbed 17.90 points, or 0.6%, to 2,854.06.
http://www.marketwatch.com/story/us-stocks-ed...=afterbell