Stocks Opened Higher amid Economic Data

U.S. stocks opened higher on Tuesday, as investors awaited data on consumer confidence and new-home sales for clues on the strength of the world’s largest economy. The Dow Jones Industrial Average lately jumped 107.99 points, or 0.66%, to 16,384.68. The S&P 500 gained 10.47 points, or 0.56%, at 1,867.91. The Nasdaq Composite was up 22.99 points, or 0.54%, at 4,249.38.

U.S. home prices dipped in January for the third straight month as cold weather, a limited supply of homes and higher mortgage rates lowered sales. The Standard & Poor’s/Case-Shiller 20-city home price index declined 0.1 percent from December to January,

Walgreen Co on Tuesday reported a lower-than-expected quarterly profit as a slowdown in the introduction of higher-profit generic medicines and a milder flu season cut into its gross profit margin. Net income slipped to $754 million, or 78 cents per share, in the second quarter ended Feb. 28, from $756 million, or 79 cents per share, a year earlier.

J.P. Morgan Chase & Co.’s (JPM) co-chief executive officer of the corporate and investment bank, Mike Cavanagh, will be joining the Carlyle Group L.P. CG +2.72% , according to a press release on Tuesday.

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