Stocks Opened Higher After Housing Data

U.S. stocks opened the final session of 2013 with small gains on Tuesday, after the report that US home prices increase at slower rate in October. The Dow Jones Industrial Average lately rose 30.57 points, or 0.19%, to 16,534.86. The S&P 500 rose 2.25 points, or 0.12%, to 1,843.32. The Nasdaq Composite advanced 9.51 points, or 0.23%, to 4,163.71.

Home prices in most U.S. cities increased at a slower pace in October from September, as higher mortgage rates weighed on sales and dampened the housing recovery. The Standard & Poor’s/Case-Shiller 20-city home price index rose 0.2 percent from September to October, down from a 0.7 percent increase from August to September.

Gold slid more than 1% Tuesday, on course for its biggest annual decline in 32 years as prospects for global economic recovery prompted investors to switch to riskier assets.

Shares of Hertz Global Holdings Inc. got a lift Tuesday after the rental-car company adopted a shareholder-rights plan, while Marvell Technology Group Ltd. benefited from the disclosure of a stake in the company by a private-equity firm.

Berkshire Hathaway Inc. (BRK) said late Monday it was acquiring the flow improver business of Phillips 66 PSX +1.39% in exchange for Phillips stock Berkshire already owns.

Netflix CEO Reed Hastings will see his scheduled base salary and stock options jump by 50% in 2014, according to a government filing by the company.