Investors paid no mind to two weak reports Tuesday:
July new-home sales fell 0.7% to an annual rate of 298,000 units. Sales fell to a five-month low and missed expectations for 310,000 units.
The Richmond Fed's manufacturing index tumbled to -10 in August from -1 in July. That was the lowest reading since June 2009.
When stocks dismiss bad news, that shows strength.
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