US stocks opened nearly flat Tuesday after the release of a string of economic data.
US home prices steadily rose in July but at a slower pace, suggesting that the rate of increase may have peaked, according to a report released Tuesday by S&P Dow Jones Indices. The S&P/Case-Shiller Home Price Indices, the leading measure of U.S. home prices, showed increases of 1.9 percent and 1.8 percent in July for the 10- and 20-City Composites, down from June' s 2.2-percent increases, said the report.
Moreover, the Federal Housing Finance Agency' s monthly House Price Index showed U.S. house price appreciation continued in July, rising 1.0 percent on a seasonally adjusted basis from the previous month, marking the eighteenth consecutive monthly price increase.
Investors are also eying more Federal Reserve officials to speak during the session, including Cleveland Fed President Sandra Pianalto and Kansas City Fed President Esther George.
A batch of Fed officials will come out to give speeches this week following the U.S. central bank' s surprise decision to keep its bond-purchase program intact on conclusion of its policy meeting last Wednesday.
Shortly after the opening bell, the Dow Jones Industrial Average lost 5.91 points, or 0.04 percent, to 15,395.47 points. The S&P 500 was down 1.59 points, or 0.09 percent, to 1,700.25 points. The Nasdaq Composite Index added 2.26 points, or 0.06 percent, to 3,767.55 points.