US stocks edge higher; Home builders gain

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Associated Press

Posted on March 18, 2014 at 7:01 AM

Updated Tuesday, Mar 18 at 7:04 AM

NEW YORK (AP) — U.S. stocks are opening slightly higher after some encouraging data on the housing market and as investors keep a cautious eye on developments in Ukraine.

Home builder stocks rose after applications for permits to build homes rose 7.7 percent in February, more than analysts were expecting.

The Standard & Poor's 500 index rose seven points, or 0.4 percent, to 1,866 in the first few minutes of trading Tuesday.

The Dow Jones industrial average rose 63 points, or 0.4 percent, to 16,310. The Nasdaq composite rose 13 points, or 0.3 percent, to 4,294.

GameStop sank 5 percent following news that Wal-Mart plans to expand its video game trade-in program to its stores.

The yield on the 10-year Treasury note held steady at 2.69 percent.

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