U.S. stocks inched lower at the open on Tuesday, as investors digested weaker-than-expected housing data. The Dow Jones Industrial Average lately fell 15.78 points, or 0.09%, to 16,921.48. The S&P 500 was down 1.99 points, or 0.10%, to 1,960.62. The Nasdaq Composite was up 4.77 points, or 0.11%, to 4,373.44.
Home prices in 20 U.S. cities rose at a slower pace than forecast in the year ended in April as declining affordability put a lid on appreciation. The S&P/Case-Shiller index of property values increased 10.8 percent from April 2013.
Elizabeth Arden (RDEN) stock fell nearly 10% in premarket trading Tuesday after the company’s board released details of a broad cost-savings program that will save between $27 million and $35 million annually once it has been fully implemented, according to a filing with the U.S. Securities and Exchange Commission.
Apple Inc. (AAPL) plans to begin the production in China next month of new iPhones with larger screens, expected to ship to retailers in September, Bloomberg News reported late Monday.
Leave a Reply
You must be logged in to post a comment.