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News » Money
Jun 18, 11:59 AM EDT

Stocks move higher on home building, low inflation; waiting for word from Federal Reserve

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Stocks move higher as investors wait for Bernanke to bring clarity; home building picks up

Hormel, Gevo, Suntech, Newfield Exploration are big market movers Tuesday

News Summary: Stocks rise while investors wait on the Fed; Russell comes oh so close to 1,000
Tribune's 2012 earnings fall 6 percent as company ends lengthy stay in bankruptcy case

Pork producer Smithfield's 4Q profit falls nearly 63 percent as feed costs rise, exports fall

H&R Block points to tough tax season as 4th-qtr results fall short of Wall Street forecast
United Technologies CFO sees 2013 revenue crimped due partly to weak European economy

DuPont says it will reach low end of 2013 net income guidance because of wet spring weather

News Summary: DuPont expects to reach low end of annual guidance, citing wet spring weather
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Are Stocks Bouncing Back?

NEW YORK (AP) -- The stock market is moving higher in midday trading after the government reported gains in home construction and low inflation.

Investors are also sending stocks up because they expect the Federal Reserve will keep in place programs meant to prop up the economy.

The Dow Jones industrial average was up 110 points, or 0.7 percent, to 15,292 at noon Eastern Daylight Time Tuesday.

The Standard & Poor's 500 index rose 10 points, or 0.6 percent, to 1,649. All 10 industry groups rose, led by telecommunications.

The Nasdaq was up 25 points, or 0.7 percent, at 3,477.

The pace of home construction rose in May and builders applied for permits to build single-family homes at the fastest pace in five years.

Hormel Foods fell 4 percent after cutting its profit forecast.

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