Stocks Fluctuate Before Factory Data

U.S. stocks were near break-even early Tuesday, as investors looked ahead to the latest factory data. The Dow Jones Industrial Average lately dipped 46.61 points, or 0.31%, to 15,021.57. The S&P 500 edged up 6.28 point, or 039%, to 1,621.24. The Nasdaq Composite added 12.91 points, or 0.38%, to 3,447.40.

With a weak global economy posing headwinds to U.S. manufacturers, growth for new factory orders has trended down on a year-over-year basis since 2010. Still, analysts expect a positive factory report on Tuesday.

Home prices racked up their biggest annual gain in more than seven years in May. Prices rose 2.6 percent from April and were up 12.2 percent compared to May last year, the biggest year-over-year increase since February 2006, CoreLogic (CLGX) said.

Chrysler’s U.S. sales in June rose 8 percent on strong demand for its two best-selling vehicles, the Ram full-size
pickup truck and Jeep Cherokee SUV, the company said on Tuesday.

Oil futures climbed above $98 a barrel on Tuesday, buoyed by worries over turmoil in Egypt. Crude for August delivery gained 81 cents, or 0.8%, to $98.80 a barrel on the New York Mercantile Exchange.