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Stocks Rise on Housing Report, Cisco Surge

"We have the conditions and capabilities, and will be sure to fulfill this year's economic and social development targets," said Wen.

September crude oil futures rose $1.27 to settle at $95.60 a barrel and December gold futures closed up $12.60 at $1,619.20 an ounce.

The benchmark 10-year Treasury was down 7/32, lifting the yield to 1.844%. The greenback was down 0.35%, according to the dollar index.

On the corporate front, Facebook (FB) shares surrendered 6.2% on more than double the average daily volume after the expiration of rules restricting early investors from reducing their stakes in the company.

Coinstar (CSTR) shares were popped 7.6% after the New York Post reported that the parent of the beleaguered movie-rental-kiosks company Redbox has been exploring the idea of selling itself to an unidentified private-equity firm for months now.

The New York Post also reported that private-equity firms KKR and Providence Equity Partners have approached Electronic Arts (EA) as the video-game maker explores the sale of the company in the face of growing competition from free online gaming sites. Shares rose 5.5%.

Idenix Pharmaceuticals (IDIX) shares plummeted 29.7% after the company said that its clinical study of the potential hepatitis C virus treatment IDX184 has once again been partly halted by the U.S. Food and Drug Administration, citing the potential for heart-linked side effects.

Sears Holdings (SHLD) reported that its loss narrowed in the second quarter thanks to cost cuts and leaner inventory levels. Shares gained 6.5%.

NetApp (NTAP), the storage and data management technology company, beat Wall Street's expectations for its fiscal first quarter and gave a solid outlook. Shares closed up 3.8%.


-- Written by Andrea Tse in New York.



>To contact the writer of this article, click here: Andrea Tse.

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