Markets Open Flat
June 26, 2012 by UPI - United Press International, Inc.
NEW YORK, (UPI) — U.S. markets opened flat Tuesday after a closely watched index on U.S. home prices showed April prices declined, but not as much as expected.
Home prices in the S&P/Case-Shiller 20-city index showed an annual decline in April of 1.9 percent. Economists had expected a 2.5 percent drop.
Investors also remain wary of developments in Europe. On Monday, Cyprus followed Spain with a request for international assistance.
In midmorning trading Tuesday, the Dow Jones industrial average shed 18.42 points or 0.15 percent to 12,484.42. The Standard & Poor’s 500 index added 4.96 points or 0.17 percent to 2,841.12. The tech-heavy Nasdaq composite index gained 0.87 points or 0.07 percent to 1,314.59.
The benchmark 10-year treasury note fell 8/32 to yield 1.634 percent.
The euro fell to $1.2476 from Monday’s $1.2504. Against the yen, the dollar fell to 79.46 yen from Monday’s 79.67 yen.
In Tokyo, the Nikkei 225 index shed 0.81 percent, 70.63, to 8,663.99.