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US indexes edge higher; Homebuilder stocks gain

FILE - This Oct. 8, 2014 file photo shows a Wall Street address carved in the side of a building, in New York. U.S. financial markets were mixed in early trading Thursday, Nov. 20, 2014 as soft economic data out of China and Europe stoked concerns about a global slowdown. (AP Photo/Mark Lennihan, File) FILE - This Oct. 8, 2014 file photo shows a Wall Street address carved in the side of a building, in New York. U.S. financial markets were mixed in early trading Thursday, Nov. 20, 2014 as soft economic data out of China and Europe stoked concerns about a global slowdown. (AP Photo/Mark Lennihan, File)

By Associated Press November 20, 2014 1 min read

Stock indexes are drifting higher following a pickup in U.S. home sales.

Traders were also weighing a decline in weekly applications for unemployment benefits Thursday and soft economic data out of China and Europe.

Best Buy rose 8 percent after its quarterly results came in far ahead of what analysts were expecting. That bodes well for the holiday shopping season in the U.S.

The Standard & Poor’s 500 index rose four points, or 0.2 percent, to 2,052 as of 11:55 a.m. Eastern time.

The Dow Jones industrial average gained 11 points, or 0.1 percent, to 17,696. The Nasdaq composite added 23 points, or 0.5 percent, to 4,698.

Homebuilder stocks rose after sales of U.S. homes increased last month. Beazer Homes rose 3 percent.