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Stocks turn higher Tuesday morning
U.S. stock markets opened with modest gains Tuesday after the Conference Board in New York said consumer confidence rose in September.
The index that measures consumer sentiment on the overall economy and the relative difficulty of finding work, added nine points in the month to 70.3, well ahead of the consensus forecast, which predicted a reading of 63 compared with the 61.3 level in August.
The closely watched Standard & Poor”s/Case-Shiller home price index released Tuesday indicated home prices in a 20-city grouping rose 1.2 percent on an annual basis in July, also beating expectations.
In midmorning trading, the Dow Jones industrial average added 39.65 points, or 0.29 percent, to 13,598.57. The tech-dominated Nasdaq Composite index added 8.90 points, or 0.28 percent, to 3,169.68. The S&P 500 added 3.73 points, 0.26 percent, to 1,460.62.
The benchmark 10-year treasury fell 3/32 to yield 1.723 percent.
The euro rose to $1.2955 from Monday”s $1.2931. The U.S. dollar fell to 77.84 yen from 78.85 yen.
In Tokyo, the Nikkei 225 index gained 0.25 percent, 22.25 points, to 9,091.54.
Copyright 2012 by United Press International