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US stocks open higher; Home Depot rises

  • Associated Press
  • August 19, 2014 - 8:40 AM

NEW YORK — Better news on home building and corporate earnings are sending stocks higher.

The Dow Jones industrial average rose 41 points, or 0.3 percent, to 16,882 as of 9:36 a.m. Eastern time Tuesday.

The Standard & Poor's 500 index rose three points, or 0.2 percent, to 1,975. The Nasdaq climbed six points, or 0.2 percent, to 4,515.

Investors were encouraged by a bounce in home construction in July and news that consumer prices rose last month at the slowest pace in five months.

Home Depot rose 4 percent after reporting that its quarterly income surged thanks to a rebound in its spring selling season.

Home builders rose. Lennar and KB Home each rose 3 percent.

Bond prices rose. The yield on the 10-year Treasury note fell to 2.36 percent.

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