Midday Report: New Home Sales Hit Seven-Month High; U.S. Stocks Rise

Stocks broke higher by late morning ahead of a vote on the Republicans' bill to repeal and replace Obamacare.
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Stocks broke higher by late morning ahead of a vote on the Republicans' bill to repeal and replace Obamacare. The passage of the bill is seen as an insight into how effective a Trump White House might be at enacting other reforms. New home sales surged to seven-month highs in February as high demand overcame constrained inventory. Sales of newly-built houses rose by just over 6% to their second-highest level since 2008. Calvin Klein parent PVH (PVH) - Get Report surged after reporting better-than-expected earnings and revenue that met estimates. Its board also authorized $750 million to be added to its share buyback program. Ford (F) - Get Report declined after issuing disappointing earnings guidance for its first quarter. A weaker bottom line was tied to lower volume, foreign exchange troubles, and increased costs.