By Anora Mahmudova, MarketWatch

NEW YORK (MarketWatch) -- U.S. stocks marched higher on Tuesday, with investors focusing on a deluge of economic data, including housing and consumer confidence reports, and earnings reports from Walgreen and Sonic.

The S&P 500 (SPX) added 10.8 points, or 0.6%, to 1,868.39.

The Dow Jones Industrial Average (DJI) rose 114.74 points, or 0.7%, to 16,394.85

The Nasdaq Composite (RIXF) was 17 points, or 0.6%, higher at 4,253.11.

Follow our stock market coverage on live blog.

Ahead of the opening bell, data on U.S. home prices showed a third consecutive decline due to harsh winter, while longer-term trends showed that price growth is slowing down, according to S&P/Case-Shiller's 20-city composite index released Tuesday.

Markets were reassured by comments from Philadelphia Fed president Charles Plosser, who said in an interview with CNBC that short-term interest rates should hit 3% at the end of 2016. He also said the market reaction to Federal Reserve Chairwoman Janet Yellen's comments after last week's Federal Open Market Committee meeting was "puzzling." He said her timetable of a rate hike six months after the end of bond buying "wasn't a wildly unexpected time frame." Her comments sparked a selloff for stock markets last Wednesday.

Plosser, who is a voting member of the Fed's policy committee, said the rate forecast isn't aggressive. The Philadelphia Fed chief is due to speak again at 7 p.m. Eastern. Atlanta Federal Reserve President Dennis Lockhart will speak as the market closes at 4 p.m. Eastern time.

More data on house sales could confirm what has been seen so far -- a not-so-upbeat start to the year. New-home sales data, due at 10 a.m. Eastern time, are expected to show year-over-year growth to slow to an annualized 440,000 pace in February, from 468,000 in January.

Also at 10 a.m. Eastern time, consumer-confidence data for March will be released.

(CCL)In corporate news, shares in Walt Disney Co. (DIS) were up 0.6% after the media giant said late Monday it was buying Maker Studios for as much as $950 million. The privately held studio is credited with making the Harlem Shake video go viral.

Vertex Energy Inc. (VTNR) shares were up 5% after the environmental services company said late Monday that net income rose to $7.88 million last year, a 115% jump from the prior year.

Volatile fuel-cell company stocks rose Tuesday, reversing losses from the prior session. Plug Power Inc. (PLUGD) rose 4.2% while FuelCell Energy Inc. (FCEL) was up 1.7%.

Himax Technologies Inc. (HIMX) sank 11% after Bank of America Merrill Lynch downgraded the semiconductor maker to underperform, saying the highly competitive market will make margin expansion difficult for Himax, according to news reports.

Walgreen Co. (WAG) rallied 4.5% after the company reported its fiscal second-quarter earnings, which fell slightly from the year-earlier period. The drugstore chain said it would close 76 stories later this year.

Shares of Sonic Corp. (SONC) rallied 10% after the company posted a 15% profit gain.

Shares of Carnival Corp (CCL) dropped 2.5% after the cruise company reported that it swung to a fiscal first-quarter loss. Its outlook for the next quarter came in below Wall Street's expectations.

In other markets, stocks in Asia showed a modest pullback, as investors continued to mull downbeat China manufacturing data from the weekend and a slightly disappointing Markit preliminary U.S. purchasing managers index. European stocks pushed higher, shrugging off soft German business-confidence data.

Gold prices (GCM4) gave up earlier gains and were lower. Oil (CLM4) prices ticked up. The ICE dollar index (DXY) , which measures the U.S. unit against a basket of six major rivals, rose to 80.05, from 79.923 late Monday.

More must-reads from MarketWatch:

Why Berkshire Hathaway will stomp small caps

44 stocks on takeover target radar: Morgan Stanley

Don't bet against Buffett

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Himax Technologies (NASDAQ:HIMX)
Historical Stock Chart
From Feb 2024 to Mar 2024 Click Here for more Himax Technologies Charts.
Himax Technologies (NASDAQ:HIMX)
Historical Stock Chart
From Mar 2023 to Mar 2024 Click Here for more Himax Technologies Charts.