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Stocks End Higher for 4th Day -  CNNMoney.com -- Stocks held on to modest gains Wednesday, closing higher for a fourth day, as strength in technology shares and commodities offset concerns about the housing market.

The Dow Jones industrial average rose 1 point, or less than 0.1%. The S&P 500 index gained about 2 points, or 0.2%. Both indexes are within range of fresh 14-month highs. The Nasdaq composite rose 17 points, or 0.7%, closing at a fresh 15-month high.

Stocks slid in early trading after the government said sales of new homes unexpectedly plunged in November, raising worries about the economic recovery. A separate report showed personal incomes and spending both rose at a slower-than-expected pace last month. But a survey of consumer sentiment rose to a 3-month high.

The market regained ground in the afternoon as a rally in the oil market helped boost shares of energy producers and industrial companies.

Oil prices surged nearly 3% after government data showed the nation's supplies of crude fell last week. Gold also rose as the dollar softened against rival currencies. Bond prices were mixed.

New Home Sales Plunge in November - New home sales unexpectedly plunged in November, according to a dismal government report.

The seasonally adjusted annual rate of new home sales plummeted 11.3% to 355,000 in November compared to the prior month, a Census Bureau report said Wednesday.

The November rate was the lowest since April, when new homes sold at an annualized rate of 345,000.