Afternoon Markets: US rises as house price falls slow

The S&P 500 opened marginally higher today as more positive housing and consumer data were released. ...

The S&P 500 opened marginally higher today as more positive housing and consumer data were released. The index rose over eight points to around 1,275 as house prices in the US declined at a slower pace for the fourth straight month in June. Overall, prices were down 15.9% from the previous year, less than economic forecasts suggested. Consumer confidence also increased more than expected in August, a report by The Conference Board revealed, as cheaper fuel prices improved Americans’ moods. Oil futures also rose due to concerns that Hurricane Gustav may disrupt oil supplies in the Gul...