Stocks Opened Slightly Higher After Economic Reports

U.S. stocks opened slightly higher on Tuesday after a pair of economic reports that were in line with expectations. The Dow Jones Industrial Average lately gained 34.13 points, or 0.21%, to 16,281.35. The S&P 500 was up 3.64 points, or 0.20%, at 1,862.47. The Nasdaq Composite rose 11.83 points, or 0.28%, at 4,291.78.

U.S. housing starts fell for a third straight month in February, but a rebound in building permits offered some hope for the housing market as it struggles to emerge from a soft patch. The Commerce Department said on Tuesday groundbreaking slipped 0.2 percent to a seasonally adjusted annual rate of 907,000 units.

Consumer prices in the U.S. rose slightly in February because of higher food and housing costs, but overall inflation remained quiet, according to the latest government figures. The consumer price index increased by a seasonally adjusted 0.1% last month, the Labor Department said.

New York’s top law enforcer has opened a broad investigation into whether U.S. stock exchanges and alternative venues provide high-
frequency traders with improper advantages, a person with direct knowledge of the matter said.

General Electric Co.‘s retail credit business is facing a pair of probes from federal regulators over possible violations of consumer financial laws, according to disclosures that were released in paperwork for a planned initial public offering of the business.

Canadian factory sales in January rose at the fastest pace in almost a year as increased proceeds for steel producers countered falling car-maker revenue. Sales rose 1.5 percent to C$50.4 billion ($45.6 billion), the fastest pace since February 2013 and fully recovering December losses, Statistics Canada said today in Ottawa.