Stocks Opened Higher as Tech Rebounded

U.S. stocks opened higher on Tuesday, as technology stocks rebounded after a widespread sell-off in the previous session. The Dow Jones Industrial Average lately rose 81.97 points, or 0.32%, to 25,388.80. The S&P 500 added 7.89 points, or 0.28%, to 2,810.49. The Nasdaq Composite gained 18.42 points, or 0.24%, to 7,648.42.

Oil futures pulled back Tuesday as traders prepared for data on inventories while weighing global supply prospects. West Texas Intermediate crude for September delivery fell 33 cents, or 0.5%, to $69.80, while September Brent crude was off 15 cents, or 0.2%, at $74.82 a barrel.

Home prices moved sideways in the spring but are still on the rise and pulling down existing and pending home sales. Standard & Poor’s said Tuesday that its S&P CoreLogic Case-Shiller national home price index posted a 6.4% annual gain in May, the same as the previous month.

Sony Corp. reported another strong quarter of earnings, buoyed by stable sales of electronics hardware, strength in its PlayStation videogame business and demand for smartphone camera components. For the April-June period, it reported net profit of Yen226.4 billion ($2.04 billion) on Yen1.95 trillion ($17.55 billion) in revenue, compared with net profit of Yen80.9 billion on Yen1.86 trillion in revenue in the same quarter last year.