(CNBC) — U.S. stocks climbed on Tuesday, with the Nasdaq Composite furthering gains that have it at a 14-year high, as economic reports offered a benign view on inflation and cast a better-than-anticipated light on the housing market.

“We’re starting to see less of a focus on geopolitical events and more of a focus on earnings and the underlying health of the economy, which is clear from the housing data for July,” said Jeff Greenberg, senior economist at J.P. Mogan Private Bank.

Already higher before the July data, stock-index futures furthered their advance after the government’s consumer price index increased 0.1 percent in July, in line with expectations and indicating the cost of living remains muted even as the economy improves.

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