Investing.com - U.S. stocks edged higher on Tuesday, after data showed that U.S. house price inflation fell in line with expectations in January while investors focused on the release of highly anticipated U.S. consumer confidence data with hopes it will confirm further economic recovery.
During early U.S. trade, the Dow Jones Industrial Average added 0.10%, the S&P 500 index rose 0.22%, while the Nasdaq Composite index edged up 0.18%.
A report showed earlier that the S&P/Case-Shiller home price index fell by 3.8% in January, in line with market expectations, declining for the 19th consecutive month.
U.S. home prices in December were revised to a decline of 4.1% from a previously reported 4.0% drop.
Meanwhile, U.S. stocks also remained higher after Federal Reserve Chairman Ben Bernanke said on Monday that further monetary accommodation is needed to bring about big gains in the U.S. jobs market, which he described as “far from normal,” despite a recent improvement.
Apple was one of the top gainers, with shares adding 0.38% after Thinkequity boosted its price target on the iPad maker to to USD700 from USD600.
Meanwhile, CEO Tim Cook will be talking to government officials in China to clear up a number of problems ranging from its iPad trademark to local labor.
Lennar also added to gains, surging 3.99% after the homebuilder posted its sharpest surge in orders in three quarters and added it was seeing robust signs of improvement in sales activity.
Rival KBHome saw shares jump 1.87% although it posted an unexpected decline in orders last week, hurt by rising cancellations in the first quarter.
Elsewhere, Alcoa, the world's third largest producer of aluminum, added 0.39% after Stifel lifted its price target on the aluminum producer to USD13 from USD11.
In earnings, Walgreen shares climbed 1.95% after the pharmacy chain posted results that fell less-than-expected as sales of general merchandise held up.
Financial stocks were mixed as shares in Bank of America fell 0.50%, while Citigroup, JP Morgan and Goldman Sachs rose 0.53%, 0.52% and 0.04% respectively.
On the downside, Apollo Group saw shares plunge 7.75% after the for-profit U.S. college said late Monday that enrollments could decline sharply as it struggles to attract students amid strict admission policies. The company also affirmed its 2012 outlook.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 fell 0.17%, France’s CAC 40 declined 0.50%, Germany's DAX advanced 0.47%, while Britain's FTSE 100 declined 0.20%.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.5%, while Japan’s Nikkei 225 Index surged 2.4%.
Later Tuesday, the U.S. was to release a report on consumer confidence.
During early U.S. trade, the Dow Jones Industrial Average added 0.10%, the S&P 500 index rose 0.22%, while the Nasdaq Composite index edged up 0.18%.
A report showed earlier that the S&P/Case-Shiller home price index fell by 3.8% in January, in line with market expectations, declining for the 19th consecutive month.
U.S. home prices in December were revised to a decline of 4.1% from a previously reported 4.0% drop.
Meanwhile, U.S. stocks also remained higher after Federal Reserve Chairman Ben Bernanke said on Monday that further monetary accommodation is needed to bring about big gains in the U.S. jobs market, which he described as “far from normal,” despite a recent improvement.
Apple was one of the top gainers, with shares adding 0.38% after Thinkequity boosted its price target on the iPad maker to to USD700 from USD600.
Meanwhile, CEO Tim Cook will be talking to government officials in China to clear up a number of problems ranging from its iPad trademark to local labor.
Lennar also added to gains, surging 3.99% after the homebuilder posted its sharpest surge in orders in three quarters and added it was seeing robust signs of improvement in sales activity.
Rival KBHome saw shares jump 1.87% although it posted an unexpected decline in orders last week, hurt by rising cancellations in the first quarter.
Elsewhere, Alcoa, the world's third largest producer of aluminum, added 0.39% after Stifel lifted its price target on the aluminum producer to USD13 from USD11.
In earnings, Walgreen shares climbed 1.95% after the pharmacy chain posted results that fell less-than-expected as sales of general merchandise held up.
Financial stocks were mixed as shares in Bank of America fell 0.50%, while Citigroup, JP Morgan and Goldman Sachs rose 0.53%, 0.52% and 0.04% respectively.
On the downside, Apollo Group saw shares plunge 7.75% after the for-profit U.S. college said late Monday that enrollments could decline sharply as it struggles to attract students amid strict admission policies. The company also affirmed its 2012 outlook.
Across the Atlantic, European stock markets were mixed. The EURO STOXX 50 fell 0.17%, France’s CAC 40 declined 0.50%, Germany's DAX advanced 0.47%, while Britain's FTSE 100 declined 0.20%.
During the Asian trading session, Hong Kong's Hang Seng Index jumped 1.5%, while Japan’s Nikkei 225 Index surged 2.4%.
Later Tuesday, the U.S. was to release a report on consumer confidence.