Stocks Rise in Early Trading - 紐約股市早段大升超过一百點

BY

Stocks Rise in Early Trading As Investors Await Release of Auto Sales Data

Wall Street advanced in early trading Tuesday, as investors drew support from falling oil prices and showed optimism that reports on auto sales and pending home sales will not signal an abrupt halt in economic growth.

Ford Motor Co., General Motors Corp., DaimlerChrysler AG and others are preparing to release March sales figures that could help give investors clues about consumer spending. GM, the nation's largest automaker, on Tuesday said its sales in China jumped 25 percent in the first quarter. With U.S. sales sluggish, looking overseas is seen as a key driver to sales. GM became China's biggest automaker in 2005 when it overtook Germany's Volkswagen AG.

Wall Street was also relieved that oil prices -- which contribute to inflation -- started to fall as tensions between Britain and Iran eased. Prices have risen steadily since 15 British sailors and marines were detained March 23 by Iran, and the two nations are in discussions that appear to be bringing the sailors closer to being released. A barrel of light sweet crude fell 97 cents to $64.98 in electronic pre-opening trading on the New York Mercantile Exchange.

Investors are also awaiting data on pending home sales, which could give them a better sense of whether the housing market is holding up despite the struggling subprime mortgage sector. On Monday, New Century Financial Corp. filed for bankruptcy protection -- the biggest mortgage lender to collapse in the slumping U.S. housing market.

In the first hour of trading, the Dow Jones industrial average rose 66.07, or 0.53 percent, to 12,448.37.