U.S. stock markets rose Tuesday despite rising yields on benchmark Spanish bonds that point to further financial troubles in Europe.
Benchmark 10-year Spanish bonds were yielding 7.07 percent, higher than most economists consider sustainable. Yields represent the borrowing costs for the government.
In Washington, the U.S. Department of Commerce said home construction starts declined in May compared with April, but permits issued, which points to project starts down the road, rose to their highest level in nearly four years.
By close of trading on Wall Street, the Dow Jones industrial average added 95.51 points, or 0.75 percent, to 12,837.33.
The Nasdaq composite index gained 34.43 points, or 1.19 percent, to 2,929.76.
The Standard and Poor's 500 added 13.20 points, or 0.98 percent, to 1,357.98.
On the New York Stock Exchange, 2,575 stocks advanced and 503 declined on a volume of 3.6 billion shares traded.
The benchmark 10-year treasury note fell 13/32 to yield 1.622 percent.
The euro rose to $1.2686 from Monday's $1.2575. Against the yen, the dollar fell to 79.02 yen from Monday's 79.11 yen.
In Tokyo, the Nikkei 225 index lost 0.75 percent, 65.15 points, to 8,655.87.
In London, the FTSE 100 index added 1.73 percent, 95.22, to 5,586.31.
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