Stocks Open Higher After US Home Prices Rise

By: Associated Press
By: Associated Press

Stocks are opening higher on news that U.S. home prices rose for the first time in eight months.

Home prices rose in April in 13 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. It was the first rise in major cities in eight months.

The Dow Jones industrial average is up 41 points, or 1.3 percent, at 12,084 in early trading Tuesday. The Standard & Poor's 500 index is up 4, or 0.3 percent, at 1,284. The Nasdaq composite is up 7, or 0.3 percent, at 2,695.

Investors are hoping that Greece can avert a default by passing cost-cutting measures that are currently being debated in that country's Parliament. Greece must pass the measures before international lenders release the next installment of emergency loans.

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