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US stock market rises slightly at midday on mixed economic reports
NEW YORK, N.Y. – The stock market is rising slightly at midday after two key reports left a mixed picture of the U.S. economy.
One report showed that home prices in July rose the most in more than seven years. Another showed that Americans’ confidence in the economy fell slightly in September as many people became less optimistic about hiring and pay increases.
The Dow Jones industrial average was up 12 points to 15,413 shortly before 12 p.m. Tuesday. The Standard & Poor’s 500 index rose two points to 1,703. The Nasdaq composite edged up 14 points to 3,780.
Applied Material jumped $1.17, or 7 per cent, to $17.16, the biggest gain of any stock in the S&P 500. The manufacturer of chip-making equipment is acquiring a rival in a $9.39 billion deal.
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