NEW YORK (AP) — Stocks are erasing early losses after reports on construction spending and manufacturing signal that the economy is continuing its recovery.
Stocks were dropping earlier Tuesday after the euro hit a four-year low.
The Commerce Department says construction spending has risen by the biggest amount in nearly a decade. The 2.7 percent April gain was the largest since August 2000. Economists forecast spending would be flat.
The Institute for Supply Management says its manufacturing index fell to 59.7 in May from 60.4 in April. The figure was better than economists’ forecast of 59.
The Dow Jones industrials are up 8. They had been down 55. The Standard & Poor’s 500 index is down 1 at 1,088, while the Nasdaq composite index is up 2 at 2,260.
