News Column

Stocks Flat Despite Housing Price Upturn

Aug. 28, 2012

U.S. stock indexes were flat in New York Tuesday as a closely watched home price report failed to spark much enthusiasm.

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.

The report said a housing recovery was on solid ground. After early gains, however, stock turned flat.

In early afternoon trading on Wall Street, the Dow Jones industrial average shed 9.32 points or 0.07 percent to 13,115.35. The tech-heavy Nasdaq Composite index added 4.41 points or 0.14 percent to 3,077.60. The Standard and Poor's 500 gained 0.16 points or 0.01 percent to 1,410.60.

The benchmark 10-year treasury rose 10/32, yielding 1.623 percent.

The euro rose to $1.257 from Monday's $1.2499. Against the yen, the dollar fell to 78.46 yen from 78.75 yen.

In Tokyo, the Nikkei 255 index lost 52.10 points, 0.57 percent, to 9,033.29.

In London, the FTSE 100 index lost 0.02 percent, 0.89 points, to 5,775.71.

Source: Copyright United Press International 2012

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