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Housing nudges stocks higher
U.S. stock indexes turned slightly higher in New York Tuesday as a closely watched home price report indicated a nascent recovery in the housing market.
The S&P Case-Shiller report said home prices rose May to June in all 20 of the cities the report monitors. Prices were up in 13 of the 20 cities on an annual basis.
In midmorning trading on Wall Street, the Dow Jones industrial average gained 14.45 points or 0.11 percent to 13,139.12. The tech-heavy Nasdaq Composite index added 5.40 points or 0.18 percent to 3,078.59. The Standard and Poor’s 500 gained 1.82 points or 0.13 percent to 1,412.29.
The benchmark 10-year treasury rose 5/32, yielding 1.64 percent.
The euro rose to $1.2563 from Monday’s $1.2499. Against the yen, the dollar fell to 78.52 yen from 78.75 yen.
In Tokyo, the Nikkei 255 index lost 52.10 points, 0.57 percent, to 9,03329.
Copyright 2012 by United Press International