U.S. stocks struggled to edge higher in early trading on Tuesday as US home prices dropped for sixth straight months. The Dow Jones Industrial lately rose 70.27 points, or 0.54%, to 12,997.44. The S&P 500 rose 3.80 points to 1,370.74. The Nasdaq Composite fell 1.53 points to 2,968.92.
Home prices dropped in February in most major U.S. cities for a sixth straight month, a sign that modest sales gains haven’t been enough to boost prices. The Standard & Poor’s/Case-Shiller home-price index shows that prices dropped in February from January in 16 of the 20 cities it tracks.
Proview Technology (Shenzhen), which is battling Apple Inc in a Chinese court over the iPad trademark, is the rightful owner of that mark, a senior official with the State Administration for Industry and Commerce (SAIC) said on Tuesday.
United States Steel Corp. said Tuesday its loss widened in the first quarter as it took a $399 million charge for the sale of its Serbian manufacturing plant. The Pittsburgh manufacturing giant lost $219 million, or $1.52 per share, for the first three months of the year. That compares with a loss of $86 million, or 60 cents per share, a year ago. Revenue rose 6.3 percent to $5.17 billion.
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