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US stocks move slightly higher ahead of data

US stocks move slightly higher ahead of data

Stocks are slightly higher in early trading Tuesday with the market on track for its best quarterly performance in more than a decade.
After a relatively quiet day of trading Monday, investors are hungry for more signs that the economy is actually growing.
A key housing index showing home price declines are moderating had little impact on the market.
The Standard & Poor's/Case-Shiller index showed home prices in 20 major cities dropped by 18.1 percent from April 2008. The 10-city index fell 18 percent from the previous year.
April marked the third straight month both indexes didn't set record price declines.
Later Tuesday morning, investors will get a reading on consumer confidence from the Conference Board. The June reading is expected to show that Americans' mood is little changed.
Consumers' confidence is closely watched because their spending accounts for more than two-thirds of economic activity.
As the April-June period comes to a close, analysts say the market could be a bit more volatile as investment managers make last-minute changes to their portfolios. The benchmark Standard & Poor's 500 index up 16.2 percent since the quarter began, its best quarter since a nearly 21 percent jump in the fourth quarter of 1998.
"It's been a good quarter overall," said Janet Engels, director of private client research at RBC Wealth Management. "I think everyone is just going to be looking to end the quarter and lock in some gains."
In the first half hour of trading, the Dow Jones industrials rose 20.56, or 0.2 percent, to 8,549.94. The Standard & Poor's 500 index gained 1.90, or 0.2 percent, to 929.13, and the Nasdaq composite index added 9.30, or 0.5 percent, to 1,853.36.


Updated : 2021-01-25 12:00 GMT+08:00