Stocks Start Higher on Hopes for Greece

U.S. stocks rose Tuesday, adding to the prior day’s gains, on hopes a fix is in the works for Greece’s debt trouble. The Dow Jones Industrial Average rose 72.36 points to 12,115.92. The Standard & Poor’s 500 Index climbed 7.50 points to 1,287.60. The Nasdaq Composite gained 17.41 points to 2,705.69.

Home prices in major U.S. cities have risen for the first time in eight months, boosted by an annual flurry of spring buyers. Home prices rose 0.7% in April, trimming the year-on-year decline to 4%, according to the S&P/Case-Shiller 20-city home price index, which is one of the most closely followed gauges. The data was roughly in line was consensus estimates.

The European Union warned Greek lawmakers on Tuesday their country faced immediate default unless they approve a hated austerity plan, as strikers began new mass protests against the EU/IMF-imposed measures.

Microsoft Corp is making its biggest move into the mobile, Internet-accessible world of cloud computing this week, as it takes the wraps off a revamped online version of its hugely profitable Office software suite.
 
The snack-food and beverage giant is launching the first new advertising campaign for its flagship Pepsi-Cola in three years—offering one of the most visible signs PepsiCo is throwing new weight behind its biggest brand after it sank to No. 3 in U.S. soda sales last year, trailing not only Coke but Diet Coke.