U.S. stocks rise on tech gains despite Canadian tariffs

U.S. stocks closed higher Tuesday, driven by gains in technology and semiconductor shares, despite new Canadian retaliatory tariffs on American goods. The Dow rose 160 points to 53,577.4, the S&P 500 gained 0.32 percent to 7,677.28, and the Nasdaq climbed 0.66 percent to 26,151.3. Canada's countermeasures, effective Sept. 8, target $20 billion in annual U.S. imports with duties up to 50 percent. Economic data showed consumer confidence fell to 89.4 in August, a seven-month low, while new home sales dropped 10.5 percent in July. DICK'S Sporting Goods shares plunged over 30 percent on weak earnings. Investors await Wednesday's inflation report.