Stocks Opened Modestly Higher After Housing Data

U.S. stocks began with mild gains on Tuesday after better-than-expected data on U.S. home prices. The Dow Jones Industrial Average lately rose 12.52 points to 12,515.18. The S&P 500 Index rose 3.92 points to 1,317.64. The Nasdaq Composite added 12.45 points to 2,848.61.

Single-family home prices picked up for a third month in a row in April, suggesting the recovery in the housing market is gaining traction, a closely watched survey showed on Tuesday. The S&P/Case Shiller composite index of 20 metropolitan areas gained 0.7 percent on a seasonally adjusted basis, topping economists’ expectations for a 0.4 percent gain.

Prime Minister Antonis Samaras has named prominent economist Yannis Stournaras as Greece’s new finance minister, a day after a banker previously named to the position resigned for health reasons.

News Corp. (NWSA) is considering splitting into two companies, separating its publishing assets from its entertainment businesses, say people familiar with the situation. The split would carve off News Corp.’s film and television businesses, including 20th Century Fox film studio, Fox broadcast network and Fox News channel from its newspapers, book publishing assets and education businesses.

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