Stocks Higher, Chrysler and Fannie Mae on Focus

Chrysler Group said its vehicle sales in March were the best since December 2007 and Fannie Mae  posted an $17.2 billion annual profit for 2012.

U.S. stocks opened higher on Tuesday ahead of factory orders data. The Dow Jones industrial average lately
rose 63.82 points or 0.41 percent, to 14,632.06, the S&P 500 gained 8.09 points or 0.52 percent, to
1,570.26 and the Nasdaq Composite added 23.17 points or 0.72 percent, to 3,262.34.

Chrysler Group said its vehicle sales in March were the best since December 2007, and estimated the
industry’s annual sales rate last month was 15.6 million.

Fannie Mae(FNMA.OB), helped by the housing market’s continued recovery, posted an $17.2 billion annual
profit for 2012 on Tuesday, its largest ever yearly gain and its first in six years.

Cyprus has concluded talks with its international creditors on the terms of its 10-billion euro bailout and
will get its first installment of aid in May, the government said on Tuesday.

About the Author

has written 14775 stories on this site.

Copyright © 2012 Nine Stocks