Stocks Rise ahead of Fed Speakers

U.S. stocks opened mildly higher on Tuesday as Wall Street looked for additional clues as to whether the Federal  Reserve will begin trimming its monthly bond purchases. The Dow Jones Industrial Average lately rose 36.21 points, or 0.24%, to 15,290.24. The S&P 500 index added 4.76 points, or 0.29%, to 1,645.18. The Nasdaq Composite gained 13.59 points, or 0.39%, to 3,478.96.

Trade deficit widened in April as a rise in imports offset a rebound in exports, suggesting that trade remained a drag on economic growth as the second quarter started. The Commerce Department said on Tuesday the trade gap
increased 8.5 percent to $40.3 billion.

The state of New York plans to sue HSBC Holdings Plc for ignoring a law designed to protect struggling homeowners from being thrown into foreclosure without getting a chance to renegotiate their mortgages. The lawsuit being filed by state Attorney General Eric Schneiderman in Buffalo, New York, accuses HSBC of ignoring a state law that requires
lenders to make a “request for judicial intervention” when they began a foreclosure action.

Discount chain Dollar General Corp (DG.N) cut the top end of its full-year profit forecast, citing moderating sales growth and a lower gross profit rate, sending its shares down 5 percent in premarket trading. The company, which
prices most of its merchandise below $10, cut the high end of its earnings forecast range to $3.22 per share from $3.30. The low end is unchanged at $3.15.






Leave a Reply