Overnight Update: The US stock market rose, building on the previous day's rally

Overnight Update: The US stock market rose, building on the previous day's rally. Treasury prices rose, on track for their sixth day of gains in seven sessions. Data presented an optimistic outlook on construction of new homes, and inflation edged up a notch. The Australian dollar strengthened after its central bank suggested rates would remain steady for some time. Gold futures fell 1% to settle at their lowest level in a week. Oil futures headed higher, reclaiming the $99-a-barrel. European stock markets turned higher on Tuesday after Russian President Vladimir Putin signaled he doesn't want to split Ukraine, easing tensions in the crisis that has kept investors on edge recently. London: BHP up 0.41% Rio up 0.33%. New York: BHP up 0.69% Rio up 0.38%. Base metals on the LME traded higher.