U.S. shares opened lower on Tuesday, as a hunch in oil costs hit energy and supplies companies and weighed on the primary benchmarks in advance of a key speech by way of Federal Reserve Chairwoman Janet Yellen.
a more robust-than-anticipated reading on U.S. residence costs lifted house builders, comparable to Lennar Corp. LEN, +three.36%
The Dow Jones Industrial average DJIA, -zero.35% fell one hundred points, or zero.6%, to 17,436, led by means of a 6.7% drop in mining company Freeport-McMoRan Inc. FCX, -3.94% meanwhile, the Nasdaq Composite COMP, -zero.12% commenced the day down 15 points, or zero.three%, at 4,750.
On the U.S. economic front, the S&P/Case-Shiller 20-city index showed house prices rose 5.7% compared with a yr ago in January. prices nationally are at their winter 2007 ranges, and stay about 12% lower than their summer 2006 peaks.