Markets Close Modestly Higher

The markets closed modestly higher despite a drop in existing home sales with investors hopeful that the Fed will lower interest rates further to stimulate the economy. The Dow rose 20 points to 13,779 while Nasdaq added 16 points to 2683. S&P 500 slipped a fraction to 1517. The 30-year bond eased as the yield edged up to 4.886%.