S&P 500, Nasdaq reach new highsU.S. stocks posted solid gains Tuesday, propelling the Standard & Poor’s 500 index and Nasdaq composite to all-time highs.Mining and other materials sector companies rose more than the rest of the market. The sector could benefit from initiatives by the White House to streamline the permitting process for manufacturing and clear the way for pipeline construction.Financial stocks also rose sharply. Energy companies climbed as crude oil prices closed higher. The rally also swept up stocks in homebuilders.Health care, phone companies and other high-dividend stocks were among the biggest laggards as bond yields rose.

Properties for sale sink to 17-year lowWASHINGTON — Americans retreated from purchasing homes in December, as the number of properties listed for sale sank to its lowest level since 1999.The National Association of Realtors said Tuesday that sales of existing homes fell 2.8 percent last month to a seasonally adjusted annual rate of 5.49 million. For all of 2016, sales posted an annual gain of 3.8 percent to 5.45 million.But the housing market has become trapped by a supply shortage that has pushed prices higher and may limit the potential for additional sales growth.

J&J forecasts less 2017 earningsJohnson & Johnson edged above fourth-quarter profit expectations, helped by consumer goods and pharmaceutical growth, but the world’s biggest health care products company also gave Wall Street a softer-than-expected 2017 earnings forecast.J&J said Tuesday it was taking another step in restructuring its medical device segment by shopping its diabetes care businesses.J&J said it is seeking a possible sale, joint venture or operating partnerships for LifeScan Inc., Animas Corp. and Calibra Medical Inc. to spark future growth and maximize shareholder value.