New York: US stocks on Tuesday finished with solid gains following encouraging economic data and a solid earnings report from Home Depot.
At the closing bell, the Dow Jones Industrial Average was up 80.53 points (0.48 percent) to 16,919.27.
The broad-based S&P 500 gained 9.85 (0.50 percent) to 1,981.59, while the tech-rich Nasdaq Composite Index rose 19.20 (0.43 percent) to 4,527.51.
Fresh US economic data showed a pickup in US housing starts after two slower months, an encouraging sign for the construction sector, and also tepid inflation, with consumer prices rising just 0.1 percent in July.
"We have fundamentals that have improved and the market now seems to be less focused on geopolitical concerns," said Peter Cardillo, chief market economist at Rockwell Global Capital.
Dow component Home Depot jumped 6.0 percent after second-quarter earnings were $1.52 per share, seven cents above analyst expectations. The home-improvement chain raised its 2014 profit forecast, citing strong sales.
