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Housing and Retail Stocks Advance in Tuesday's Market Rally

TheStreet

U.S. stocks climbed close to intraday highs on Tuesday. The Nasdaq added to gains after closing at a 14-year high on Monday. Economic reports are casting a better-than-expected light on the housing market and benign inflation is helping to propel the markets higher. Homebuilder stocks are adding to Monday's gains on the latest upbeat housing data. KB Homes (KBH), DR Horton (DRI) and Hovnanian (HOV) are all up more than 2 percent. Home improvement retailer, Home Depot (HD) is the biggest gainer for the blue chips. The retailer's quarterly results topped expectations and the company raised its outlook. TJX Companies (TJX) also advanced in Tuesday's session. The discount clothing company that owns TJ Maxx and Marshalls raised its profit forecast and reported sales grew faster than expected. Another retailer joining in on this rally is Dick's Sporting Good (DKS) after it beat Wall Street's profit expectations. TheStreet's Susannah Lee reports from Wall Street.