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Stocks rise in early trading on Wall Street

May 16, 2012|By Andrew Tangel
  • Stocks were up early following the release of positive housing and industrial production data.
Stocks were up early following the release of positive housing and industrial… (Richard Drew / Associated…)

Stocks rose in early trading on Wall Street today as the government reported positive data for the housing market.

The Dow Jones industrial average was up 64 points, or 0.5%, to 12,696.

The broader Standard & Poor's 500 index was up 8 points, or 0.6%, to 1,339.

The technology-focused Nasdaq was up 10 points, or 0.4%, to 2,904.

The U.S. Department of Commerce said housing starts in April were at a seasonally adjusted annual rate of 717,000, up 2.6% from a revised March estimate of 699,000.

Meanwhile, Greece continued to struggle to form a government, but European stock markets were in positive territory.

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