NEW YORK — Financial companies are pushing stock indexes higher in midday trading. Oil prices dipped.
Bank of America Corp. rose 4 percent, leading the 30 stocks that make up the Dow Jones industrial average, after analysts said that the bank may soon raise its dividend. Bank stocks in the S&P 500 index are up 2 percent Tuesday, the most of any of the index's 10 company groups.
Oil prices fell 0.4 percent to $105 a barrel after reports that OPEC may raise its oil output.
The Dow Jones industrial average is up 115 points, or 0.9 percent, to 12,205 in midday trading. The S&P 500 is up 11, or 0.9 percent, to 1,321. The Nasdaq composite is up 22, or 0.8 percent, to 2,768.
The U.S. housing market is historically overvalued. Moody’s says these cities may see prices drop up to 10%