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Stocks higher as US home prices increase

NEW YORK (AP) - Investors apparently aren't fazed by today's report from a private research group that consumer confidence is at a seven-year low -- largely because of worries about jobs.
Stocks are still higher, with the Dow posting a triple-digit increase. They rose on news that U.S. home prices are up for the first time in eight months.
Home prices rose in April in 13 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. Washington, D.C., saw the biggest price increases, followed by San Francisco, Atlanta and Seattle.
Still, six metro areas are at their lowest levels in the nearly four years. Those markets are: Charlotte, Chicago, Detroit, Las Vegas, Miami and Tampa.
The Conference Board's Consumer Confidence Index slipped to 58.5 in June, down from a revised 61.7 in May. Economists had expected the figure to edge up to 61. The results follow an almost six-point drop from May to April, which had marked a six-month low.


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