Summary Box: Mixed readings on economy as home sales slump, earnings and jobless claims rise

Summary Box: Mixed readings on economic recovery

GOOD NEWS, BAD NEWS: Home sales sank and jobless claims rose, the latest signs of a faltering economic recovery. But a string of strong corporate earnings reports renewed Wall Street’s optimism.

HOUSING, EMPLOYMENT WEAK: Sales of previously occupied homes fell 5.1 percent in June, a trade group said. Jobless claims, meanwhile, remain elevated, a sign that hiring is still slow.

SLOW RECOVERY: The housing industry has struggled since government incentives ended in April. The Conference board, a private research group, said its gauge of future economic activity dropped in June.