| Stocks are flat on mixed economic news and Home prices fall in October, S&P/Case-Shiller says |
| News - Financial News |
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Stocks were moving between small gains and losses Tuesday on mixed economic news. Consumer confidence surged to an eight-month high, but home prices dropped in major cities. Sears plummeted after reporting that it would close more than 100 stores around the country. In the latest sign of a bumpy recovery in the housing market, home prices fell in 19 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. Atlanta, Detroit and Minneapolis posted the biggest declines. [Read the full article] Stocks were eking out small gains Tuesday on mixed economic news. Consumer confidence surged to an eight-month high, but home prices dropped in major cities. Sears plummeted after reporting that it would close more than 100 stores around the country. In the latest sign of a bumpy recovery in the housing market, home prices fell in 19 of the 20 cities tracked by the Standard & Poor's/Case-Shiller index. Atlanta, Detroit and Minneapolis posted the biggest declines. [Read the full article] Shares of casino companies and game makers traded higher Tuesday after the Justice Department said it was relaxing its enforcement of a rule that bans Internet gambling. The U.S. Department of Justice released a legal opinion on Friday saying that federal law doesn't cover online betting that's not related to sporting events. The situation has been unclear since Congress passed and former President George W. Bush signed a 2006 law forbidding operators from running games by preventing financial institutions from processing funds for most online wagering. Sterne Agee analyst David Bain said the opinion could lead eventually to full federal legalization of online gambling. In the meantime, Bain said states could proceed more quickly with ballot initiatives to allow it. [Read the full article] 
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