Stocks Edge up as Energy, Tech Lead

Stocks edged up at the start on Tuesday, led by gains in energy and tech sectors. The Dow Jones industrial average
lately was up 41.08 points, or 0.27 percent, at 15,009.97. The Standard & Poor’s 500 Index was up 5.33 points, or 0.33 percent, at 1,622.83. The Nasdaq Composite Index was up 8.10 points, or 0.24 percent, at 3,401.07.

Home prices rose 10.5% in March, compared with the same month a year ago, the largest monthly increase since March 2006, according to research firm CoreLogic Inc.

HSBC aims to keep the pressure on costs after first-quarter earnings nearly doubled due to the bank’s three-year
efficiency drive and a halving in bad debts charges. HSBC posted a pretax profit of $8.4 billion, up from $4.3
billion a year ago and above the average forecast of $8.1 billion from analysts polled by the company.

Commerzbank AG (CBK), the German bank that got 18.2 billion euros ($23.8 billion) in state aid, reported a loss for
the second consecutive quarter after booking costs associated with firing staff.

About the Author

has written 14922 stories on this site.

Copyright © 2012 Nine Stocks