Global Stocks: U.S. stock indices climbed

U.S. stock indices advanced on Tuesday amid gains in oil prices.

The Dow Jones Industrial Average rose 192.71 points, or 1.1%, to 17,720.98. The S&P 500 rose 21.86 points, or 1.1%, to 2,078.36 (all of its 10 sectors climbed). The Nasdaq Composite gained 66.95 points, or 1.3%, to 5,107.94.

A report from S&P/Case-Shiller showed that U.S. home prices rose at a faster pace in October; however recent data suggest that home sales lost momentum. The home price index rose by 5.2% in the twelve months through October compared to a 4.9% increase in September.

Meanwhile the Conference Board reported that the consumer confidence index improved to 96.5 (1985=100) in December from 92.6 in November. The current assessment index rose to 115.3 from 110.9; the expectations index advanced to 83.9 from 80.4.

This morning in Asia Hong Kong Hang Seng declined 0.54%, or 118.77, to 21,880.85. China Shanghai Composite Index fell 0.70%, or 24.93, to 3,538.81. The Nikkei gained 0.31%, or 58.39, to 19,040.62.

Asian stock indices traded mixed. Japanese stocks rose on higher crude oil prices and a weaker yen, which is favorable for exporters. Nevertheless trading was sluggish ahead of a holiday.