NEW YORK (CNNMoney.com) -- Stocks crept higher Tuesday morning as a surprisingly strong read on consumer confidence and a further decline in oil prices offset rising Treasury bond yields and corporate profit warnings, one session after a big rally.

The Nasdaq composite (down 0.77 to 2,248.30, Charts) added 0.4 percent, around 40 minutes into the session. The Nasdaq had led the rally in the previous session.

The Dow Jones industrial average (up 11.05 to 11,586.86, Charts) added 0.4 percent as well. On Monday, the blue-chip indicator ended the session within 150 points of its all-time high of 11,722.98, hit on Jan. 14, 2000.

The Standard & Poor's 500 (up 0.59 to 1,326.96, Charts) index added 0.3 percent. On Monday it closed at a fresh 2006 high and its highest point since Feb. 2001.

Stocks surged Monday on bets that the slowdown in the economy, the pullback in energy prices and the decline in bond yields mean the Federal Reserve won't lift interest rates again any time soon.

Such bets remained in place Tuesday but with the blue-chip averages hitting up against multi-year highs, stocks were a bit vulnerable at the open.

However, a strong read on September consumer confidence helped stocks recover. Released shortly after the start of trade, the index rose to 104.5 in the month, topping forecasts for it to rise to about 102.5 from 99.6 in August.

Also impacting trade Tuesday: Some discouraging corporate news.

Home builder Lennar said Tuesday morning that quarterly earnings fell from a year ago amid the slowdown in the housing market. The company also warned that fourth-quarter earnings would miss analysts' estimates and its own earlier forecast.

But Lennar (up $0.00 to $46.88, Charts) shares rose about 1 percent as investors by now are getting used to bad news out of the home building sector.

After the close Monday, home improvement retailer Lowe's (up $0.40 to $29.24, Charts) said it will post full-year earnings at or near the low end of its previous guidance as a result of weaker than expected sales. Shares rose Tuesday.

Also late Monday, chipmaker PMC-Sierra (down $0.45 to $6.10, Charts) warned that fiscal third-quarter revenue will be in a range lower than it previously forecast and lower than what analysts are expecting, due to weaker business activity. Shares slumped nearly 8 percent Tuesday.

U.S. light crude oil for November delivery fell 28 cents to $61.18 a barrel in electronic trading.

COMEX gold for December delivery fell $1.40 to $594.50 an ounce.

Treasury prices slipped after rising for a week. The decline lifted the yield on the benchmark 10-year note to 4.56 percent from 4.54 percent late Monday. Bond prices and yields move in opposite directions.

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