The US markets mostly rose on Tuesday, amid better-than-estimated earnings and data indicating sales of new homes for March coming in stronger than anticipated, signaling some stabilization in the beleaguered real-estate market. Investors embraced corporate results but sold shares of Apple Inc. ahead of the iPad maker’s quarterly report. It was the stock’s 10th down day in 11 sessions, extending a loss from its record high close on April 9. Also, the US Commerce Department stated that sales of new homes were at an annual rate of 328,000 in March, compared with the median economist estimate of 319,000.
However, a gauge of US consumer confidence has declined for a second month, ticking down in April on lower expectations, even as views on the present situation increased, the Conference Board reported. The consumer-confidence index fell to 69.2 from a revised March reading of 69.5, according to the New York-based Conference Board, a private research group. A prior estimate had pegged March’s confidence level at 70.2. Besides, a third report showed home prices in 20 US metropolitan areas in February falling 3.5% from the year-earlier period, the smallest 12-month decline since early 2011. US home prices dropped sharply in February to hit the worst level in nearly a decade, according to a closely followed index released. The S&P/Case-Shiller 20-city composite fell 0.8% compared to January levels to take the year-on-year drop to 3.5%. The index is at its lowest level since October 2002. Of the 20 cities measured, 16 had negative readings and only three showed gains.
The Dow Jones Industrial Average closed higher by 74.39 points, or 0.58 percent, at 13,001.60. The S&P 500 gain 5.03 points, or 0.37 percent, at 1,371.97, while the Nasdaq was down by 8.85 points, or 0.30 percent, at 2,961.60.
Indian ADRs closed mostly in green on Tuesday; Wipro was up 0.20%, Infosys Technologies was up 0.08% and HDFC Bank was up 0.05%. On the other hand, ICICI Bank was down 0.26% and Sterlite Industries was down 0.04%.
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