Stock market opens mixed after home price survey

AP News
Posted: Sep 24, 2013 9:49 AM
Stock market opens mixed after home price survey

NEW YORK (AP) — The stock market is opening mixed as traders parse a survey of U.S. home prices and wait for a report on consumer confidence.

The Dow Jones industrial average was down seven points to 15,393 shortly after the market opened Tuesday. The Standard & Poor's 500 index is down two points to 1,700. The Nasdaq is up two points to 3,767.

Home prices rose 12.4 percent in July from a year earlier, according to a Standard & Poor's/Case-Shiller home price index released before trading began. That's the most since February 2006.

Traders are waiting for a report on September's consumer confidence, a key gauge of U.S. economic activity.

Shares of Lennar rose $1.46, or 4 percent, to $36 after the homebuilder said Tuesday that healthy home sales boosted its quarterly profit.