NEW YORK (Reuters) - U.S. stocks are modestly higher at the open on Tuesday as a cascade of earnings landed and inflation was tame, while hopes rose for an easing of tensions in Ukraine. The Dow Jones industrial average is rising 29.95 points, or 0.18 percent, to 17,081.68, the S&P 500 is up 7.15 points, or 0.36 percent, to 1,980.78 and the Nasdaq Composite is adding 20.42 points, or 0.46 percent, to 4,445.12. (Reporting by Chuck Mikolajczak; Editing by Nick Zieminski)
U.S. home resales rose in June to their fastest pace in eight months, a signal that the housing market was pulling out of a slump. The National Association of Realtors said on Tuesday existing home sales increased 2.6 percent to an annual rate of 5.04 million units.
By Lucia Mutikani WASHINGTON (Reuters) - U.S. consumer prices rose in June as the cost of gasoline surged, but the underlying trend remained consistent with a gradual build-up of inflationary pressures. The Labor Department said on Tuesday its Consumer Price Index increased 0.3 percent last month, with gasoline accounting for two-thirds of the gain, after May's 0.4 percent rise. In the 12 months through June, the CPI increased 2.1 percent after a similar rise in May. Inflation is creeping up as the economy's recovery becomes more durable, a welcome development for some Federal Reserve officials who had worried that price pressures were too low.
(Reuters) - Coca-Cola Co reported lower-than-expected quarterly revenue as sales volumes in North America, its biggest market, failed to show growth for the second straight quarter. Unit case volume sales were flat in North America in the quarter ended June 27 despite increased marketing around the FIFA World Cup and the launch of its 'Share a Coke' campaign. JP Morgan analysts had expected volumes to be up 1-2 percent in North America, which accounted for 45 percent of total revenue in the second quarter. Still, sparkling beverages volume, which includes carbonated energy drinks and waters, was flat in the quarter in North America, with brand Coca-Cola volumes up 1 percent.
(Reuters) - Quarterly profit at McDonald's Corp fell more than expected after established restaurants in its struggling U.S. division turned in a third straight quarterly sales decline and results from Europe also logged a surprise drop. Weakness in the world's biggest hamburger chain's two top markets, coupled with its warning of a global fall in same-restaurant sales for July, also helped send McDonald's shares down 1.1 percent in early trading on Tuesday. McDonald's gets about 30 percent of its revenue from the United States, where sales at restaurants open at least 13 months fell 1.5 percent in the second quarter. Traffic remained depressed amid tough competition from a range of rivals, which include Wendy's Co, Burger King Worldwide Inc and privately held Chick-fil-A. Analysts had expected McDonald's U.S. comparable sales to fall just 0.3 percent, according to research firm Consensus Metrix.