U.S. equities finished solidly higher, with the S&P 500 and NASDAQ marking new record closing highs, as a host of upbeat earnings results, headlined by Dow members United Technologies and Coca-Cola, as well as Twitter and Hasbro, joined a 16-month high in new home sales to boost conviction. Treasury yields were lower, and gold lost ground, while the U.S. dollar was higher. Crude oil prices added to yesterday’s rally to hit a six-month high, continuing to get a boost from the U.S. decision to end sanction waivers for Iranian oil importers.

The Dow Jones Industrial Average (DJIA) rose 145 points (0.6%) to 26,656, the S&P 500 Index was up 26 points (0.9%) to 2,934, and the NASDAQ Composite jumped 106 points (1.3%) to 8,121. In moderate volume, 823 million shares were traded on the NYSE and 2.0 billion shares changed hands on the NASDAQ. WTI crude oil gained $0.75 to $66.30 per barrel and wholesale gasoline was unchanged at $2.08 per gallon. Elsewhere, the Bloomberg gold spot price fell $2.72 to $1,272.27 per ounce, and the Dollar Index—a comparison of the U.S. dollar to six major world currencies—was 0.4% higher at 97.63.

New home sales rose 4.5% month-over-month (m/m) in March to an annual rate of 692,000 units—the highest since November 2017—versus the Bloomberg forecast calling for 649,000 units and the downwardly-revised 662,000 unit pace in February. The median home price was down 9.7% y/y to $302,700, a two-year low. New home inventory declined to 6.0 months of supply at the current sales pace from 6.3 in February. Sales rose in the Midwest, South and the West m/m but fell in the Northeast. New home sales are based on contract signings instead of closings and this was the third-straight monthly gain, likely due to improved affordability amid the drop in home prices and interest rates last month.

The Richmond Fed Manufacturing Activity Index for April surprisingly declined to 3, versus forecasts calling for the figure to match March’s unrevised level of 10. A reading of zero is the demarcation point between expansion and contraction.

Treasuries rose, as the yield on the 2-year note fell 5 basis points (bps) to 2.35%, the yield on the 10-year note declined 2 bps to 2.57%, and the 30-year bond rate dipped 1 basis point  to 2.98%.

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