Stocks are extending their gains into a seventh day after a report showed a slight rise in home prices.
The Standard & Poor's/Case-Shiller home price index rose for a fifth straight month in October, edging up 0.4 percent. However, the index was off 7.3 percent from October last year, roughly in line with what analysts expected.
The index is now up 3.4 percent from its bottom in May, but still almost 30 percent below its peak in April 2006. Only 11 of the 20 cities tracked in the report showed gains.
Later Tuesday morning, the Conference Board will release its consumer confidence index for December. Economists expect the index to increase to 52 from 49.5 in November. While still a long way from what is considered healthy -- a reading above 100 signals strong growth -- the index has risen significantly from a historic low of 25.3 in February.
Trading has been quiet in recent days, as many investors take vacation between the Christmas and New Year's holidays. But even in light volume, the market continues to climb, adding to the big gains logged since stocks hit 12-year lows in March, amid improving economic data.
Reports showing an increase in durable goods orders and a decline in claims for unemployment benefits helped spur the market higher last week. On Monday, investors were encouraged by a jump in retail sales.
The Standard & Poor's 500 index has risen for six straight days, gaining 2.3 percent to reach a new high for the year.
In early trading, the Dow Jones industrial average rose 27.28, or 0.3 percent, to 10,574.36. The Standard & Poor's 500 index rose 1.65, or 0.2 percent, to 1,129.43, while the Nasdaq composite index was up 0.11, or roughly unchanged, at 2,291.19.
Yesterday’s Top Performing Small Cap stocks:
TIE Technologies, Inc. (Pink Sheets: TTCS) was a SmallCapVoice.com top performer on Thursday closing up over 66% on trading volume of 10.101 shares.
TIE Technologies is a systems integration and telecommunications company focused on engineering and delivering innovative solutions for user's needs and challenges within the dynamic global voice, video and data communications markets. The company offers managed IT and telecommunication services to solve a myriad of complex client requirements. Services and solutions include out sourced and internal server, applications hosting, managed hosting and related systems management services, database hosting, content delivery networks, data broadcasting networks, and voice and video solutions providers.
Today’s SmallCapVoice.com Hot Stock to Watch:
Zenergy International, Inc. (Pink Sheets: ZENG)
Zenergy International, Inc. is a global biofuel solutions provider which works to deliver biofuels at a competitive price, focusing on sustainable resources, safe practices, and compliance with all environmental laws. The Company strives to minimize overall environmental impact. Zenergy is engaged in the development and acquisition of biofuel sites, including constructing, acquiring existing facilities and operating fuel-grade biodiesel and ethanol plants.
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