UPDATE: Stock Market Opens Mixed After Home Price Survey 9/24/13
NEW YORK - The stock market is opening mixed as traders parse a survey of U.S. home prices.
Home prices rose 12.4 percent in July from a year earlier, according to the Standard & Poor's/Case-Shiller home price index. That's the most since February 2006. An increase in sales on a limited supply of available homes drove the gains.
Still, the month-over-month price gains shrank in 15 cities in July compared with the previous month, indicating prices may be peaking.
There's also word today that Americans' confidence in the economy fell slightly in September from August, as many became less optimistic about hiring and pay increases over the next six months.
The Conference Board, a New York-based private research group, says its consumer confidence index dropped to 79.7 in September. That's down from August's reading of 81.8, which was slightly higher than previously estimated.