NEW YORK - Wall Street advanced modestly Tuesday, with investors relieved but unimpressed that new home sales declined in May by a smaller amount than expected.
The Commerce Department reported that sales of new homes fell 1.6 percent in May to a seasonally adjusted annual rate of 915,000. It was the fourth decline in the past five months, but a milder decrease than analysts had predicted. In April, new home sales had jumped by 12.5 percent.
The stock market's gains were small, however. Investors were a bit unnerved by the Conference Board's index on consumer confidence, which fell more than anticipated, and still jittery about subprime lending troubles and ahead of …
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