New York, March 21 (IANS) US stocks opened slightly higher Wednesday as mixed reports showed that the American housing market is improving.
The Mortgage Bankers Association said its seasonally adjusted index of mortgage application activity, which includes both refinancing and home purchase demand, dipped 7.4 percent in the week ended March 16, reports Xinhua.
However, earlier housing data showed that the US housing market is improving as both new buildings permits and home builders’ sentiments surged.
Also being closely watched by investors, the existing home sales report will be released later on Wednesday.
The Dow Jones industrial average gained 9.68 points, or 0.07 percent, at 13,179.87. The Standard & Poor’s 500 was up 1.25 points, or 0.09 percent, to 1,406.77. The Nasdaq Composite Index rose 6.09 points, or 0.20 percent, to 3,080.24.
rnrn