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US stocks rise ahead of home-sales report

NEW YORK : US stocks climbed as markets opened Tuesday, building on the previous day's gains, as investors looked ahe
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By Imad Uddin
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NEW YORK: US stocks climbed as markets opened Tuesday, building on the previous day's gains, as investors looked ahead to data on the vital US housing market.

The Dow Jones Industrial Average was up 43.90 points (0.40 percent) to 10,898.55 in the first five minutes of trading.

The broader S&P 500 rose 3.12 points (0.28 percent) to 1,126.94, while the tech-heavy Nasdaq Composite gained 10.11 points (0.43 percent) to stand at 2,355.49.

Investors were waiting for the 1400 GMT release of a monthly report on new-home sales. Most analysts expect the July reading will show sales fell from June as the collapsed US housing market struggles to recover.

 

Copyright AFP (Agence France-Presse), 2011

 

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