Stocks Opened Lower, Oil Slipped

U.S. stocks opened lower on Tuesday, as oil prices slipped and the dollar strengthened. The Dow Jones Industrial Average lately shed 120.81 points, or 0.67%, to 17,855.50. The S&P 500 lost 10.81 points, or 0.52%, to 2,075.43. The Nasdaq Composite was down 29.20 points, or 0.59%, to 4,918.24.

Home prices in 20 U.S. cities appreciated at a faster pace in the year ended in January, indicating the residential real-estate market continues to firm. The S&P/Case-Shiller index of property values increased 4.6 percent from January 2014, the biggest gain since September, after rising 4.4 percent the prior month.

Brent crude oil dropped towards $55 a barrel on Tuesday. Brent was $1.25 lower at $55.04 a barrel by 1111 GMT and was heading for a monthly drop of around 12 percent. U.S. crude was down 92 cents at $47.77 a barrel.

Cable television operator Charter Communications Inc said it would buy privately held Bright House Networks in a cash-and-stock deal valued at $10.4 billion to expand in Florida. Charter will own 73.7 percent of the partnership and Advance Newhouse will own the rest.

International Business Machines Corp said on Tuesday it will invest $3 billion over the next four years in a new ‘Internet of Things’ unit, aiming to sell its expertise in gathering and making sense of the surge in real-time data.

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