NEW YORK (AP) — Encouraging news about home prices and trade helped push the stock market up in early Tuesday trading.
The Dow Jones industrial average was up 26 points at 15,280 as of 10:10 a.m., a slight rise of 0.1 percent.
Real estate data provider CoreLogic reported that home prices jumped 12 percent in April from a year earlier, the biggest gain since February 2006.
The government reported that the country's trade deficit in April was narrower than economists had expected.
The Standard & Poor's 500 index was up three points at 1,644, or 0.2 percent. The Nasdaq composite rose nine points to 3,474, or 0.3 percent. Telecommunication companies led the 10 industry groups in the S&P 500, climbing 1 percent.
General Motors rose 2 percent on news that the company will be added to the S&P 500 index on Thursday, replacing H.J. Heinz Co. The ketchup maker's acquisition is getting bought by Warren Buffett's Berkshire Hathaway and the private equity firm 3G Capital. GM was up 58 cents to an even $35.
Dollar General slumped 8 percent, the biggest drop in the S&P 500. The discount-store chain cut its earnings and revenue forecast for the year ahead because it expects sales to slow. Dollar General's stock dropped $4.06 to $49.48.
SAIC dropped 3 percent, or 46 cents, to $14.39. The security and communications technology company posted a 31 percent drop in quarterly earnings late Monday, as government spending cuts crimped SAIC's revenue.
In the market for U.S. government bonds, the yield on the 10-year note was 2.15 percent, up from 2.12 percent late Monday.
- Investment & Company Information