than-expected rise in July, but new home sales showed signs of buckling under the weight of higher interest rates. That weighed on homebuilders. Shares of K.B. Home fell 56 cents to $68.24, while shares of Pulte Homes Inc. fell 56 cents to $59.19. Centex Corp. was down 19 cents at $46.31. Among shares boosting the market was Boeing, up $1.59, or 3.12 percent, to $52.50. Williams-Sonoma Inc. rose $3.14, or 9.97 percent, to $34.64, after it posted a better-than-expected 55 percent increase in quarterly profit as sales jumped at its Pottery Barn chain. The housewares retailer maintained its earnings forecasts for the rest of the year despite the strong quarterly performance, citing economic and "geopolitical" uncertainty. Some beaten-down sectors also gained. "We're seeing some strength in some stocks that have been weaker over the last couple of days, so semiconductors and some of the technology stocks are pretty strong today," said Schrader. Chipmaker Intel Corp. rose 28 cents to $21.95, a 1.29 percent rise, Advanced Micro Devices Inc. rose cents to $12.20, a 2.09 percent increase, while Applied Materials Inc., the world's largest maker of chip-making gear, gained 33 cents to $16.26. But apparel retailer Gap Inc. weighed on the S&P 500 index after Merrill Lynch downgraded the retailer to "neutral" from "buy." Its shares fell 40 cents, or 2.01 percent, to $19.52. H&R Block Inc., the largest U.S. tax preparation firm, was another burden after the company posted a first-quarter loss after the bell on Tuesday. Shares tumbled $2.78, or 5.43 percent, to $48.45.
