NEW YORK, Aug. 23 (Xinhua) -- U.S. stocks rose but the dollar fell on Friday, as the country's falling new home sales in July added uncertainties about when the U.S. Federal Reserve would scale back its monetary stimulus.
The blue-chip Dow Jones Industrial Average was up 46.62 points, or 0.31 percent, to 15,010.36 points. The broader S&P 500 gained 6. 54 points, or 0.39 percent, to 1,663.50 points. The tech-heavy Nasdaq Composite Index rose 19.08 points, or 0.52 percent, to 3, 657.79 points.
For the week, the Dow lost 0.5 percent while the S&P 500 advanced 0.5 percent. In addition, the Nasdaq was up 1.5 percent.
Sales of new single family houses in July were 394,000 at a seasonally adjusted annual rate, down 13.4 percent from June's revised rate, the U.S. Commerce Department said on Friday.
"This is the weakest reading in nine months, suggesting new home sales have lost momentum. The large contrast of existing and new home sales in July also implies would-be home owners' sensitivity to interest rates," Mei Li, an economic analyst at FTN Financial, said on Friday.
U.S. existing-home sales rose strongly in July, increasing 6.5 percent to a seasonally adjusted annual rate of 5.39 million from a downwardly revised 5.06 million in June, the National Association of Realtors reported on Wednesday.
Moreover, U.S. monetary policy makers as well as some central bankers in the world are discussing monetary policy and economic situation at a three-day symposium in Jackson Hole, Wyoming, and investors would be looking for any hints about when the Fed will start tapering stimulus.
In interviews with CNBC Friday, several Fed officials attending the annual conference gave few clues as to whether the Fed would decide to trim its quantitative easing policy at its September meeting.
On the previous trading day, the Nasdaq stock market, the second-largest U.S. stock exchange, halted trading of all stocks for about three hours due to technical problems.
Robert Greifeld, chief executive officer of the Nasdaq OMX Group, the operator of Nasdaq, said Friday the Nasdaq resolved the technical issues that led to Thursday's trading halt, but cannot guarantee there would be no future problems.
The CBOE Volatility Index, widely considered as a fear gauge of the market, dipped 5.28 percent to end at 13.98.
The U.S. dollar initially strengthened against a basket of currencies as the yield on the 10-year U.S. Treasury rose, but surrendered gains against its peers after the report of U.S. new home sales.
In late New York trading, the euro rose to 1.3381 dollars from 1.3353 dollars of the previous session, and the Australian dollar went up to 0.9031 dollar from 0.8999 dollar.
In other markets, oil prices also gained on the falling American new home sales data.
Light, sweet crude for October delivery gained 1.39 dollars, or 1.32 percent, to settle at 106.42 dollars a barrel on the New York Mercantile Exchange. Brent crude for October delivery was up 1.14 dollars, or 1.03 percent, to close at 111.04 dollars a barrel.
Gold future for December delivery on the COMEX division of the New York Mercantile Exchange rose 25 dollars to settle at 1,395.8 dollars per ounce on a soft dollar.