Home Prices and Durable Goods Orders on the Rise; S&P Nears Record

Mixed economic reports were released on Tuesday, causing the US indices to edge up towards the end of the day. The Dow finished at a new record high of 14,559.65. Positive news came from the housing and manufacturing industries, with a rise in average prices for new homes and a 5.7% boost in durable goods orders for the month of February. Consumer confidence on the other hand fell more than was expected in March, mostly due to recent concerns of US budget cuts. Gainers for the day included Netflix (NFLX) who saw shares rise after its price target was increased and Monsanto Co. (MON) who rallied after announcing its resolution with DuPont Co. (DD) over their legal battle.
Best Buy (BBY) fell on pessimistic comments from investors about the company's future performance. Worries over Cyprus and the recent bailout deal caused the euro to swing between losses and gains and pushed Treasurys higher in the US on Tuesday.

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Published on Mar 26, 2013
By InvestorGuide Staff

Copyrighted 2016. Content published with author's permission.

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