US stocks inch up after housing report


NEW YORK (AP) -- Stocks are opening with slight gains on Wall Street.

The Dow Jones industrial average is up 22 points to 12,525 in early trading Tuesday.

The Standard & Poor's 500 index is up four points to 1,317 and the Nasdaq is up 11 points to 2,847.

Home prices increased in 19 of 20 major U.S. cities between April and March, more evidence that the housing market is slowly improving even as the job market slumps.

A day after Spanish 28 banks were downgraded by Moody's, the country's borrowing costs spiked in a pair of short-term debt auctions, the latest sign that investors are hesitant to lend the country money.

Later Tuesday morning, The Conference Board reports its monthly consumer confidence index. Economists expect the board to report that the index fell.

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