<|begin_of_text|><|begin_of_text|><|begin_of_text|>Major U.S. stock averages rise Wednesday after encouraging U.S. data.
NEW YORK (TheStreet) -- Major U.S. stock averages were trading higher late Wednesday morning as investors cheered a larger-than-expected rise in pending home sales,<wm> along with strong U.S. consumer confidence reading and overall economic data that did show some upward momentum for stocks.

According to the Commerce Department's report on pending home sales for June, a +4% increase, the latest 28th month in line for a rise. Other data also put some positivity in its sights, with the industrial and airline traffic indexes gaining steam and Federal Reserve Chair Jerome Powell is set to deliver a more detailed economic plan at a policy meeting later on Thursday.

Before going to sleep</wm> and writing up what was seen that morning, we have an overnight reading in our daily earnings round-up