Specialist Robert Canzani, left, and trader Robert Moran, right, work on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
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Specialist Robert Canzani, left, and trader Robert Moran, right, work on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
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Specialist Henry Becker, center, works with traders at his post on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
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Timothy Nick, center, works with fellow traders on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
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A pair of traders confer on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
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Specialist Derek Orth works at his post on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
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Trader James Lamb works on the floor of the New York Stock Exchange Tuesday, March 19, 2013. A surprisingly strong increase in new home construction is sending stocks higher in early trading on Wall Street. (AP Photo/Richard Drew)
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A homeless person sleeps on a metro ventilation grill as commuters enter Syntagma station in Athens, Monday, Nov. 12, 2012. Greek lawmakers approved the country's 2013 austerity budget early Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt. (AP Photo/Thanassis Stavrakis)
News Summary: Cyprus offsets homebuilder data
HOME BUILDERS: The Dow and other U.S. indexes started higher following a report of a surprisingly large increase in new home construction in February. The index gained as much as 62 points in morning trading.
CYPRUS VOTES 'NO': Early gains for stocks didn't last after investors turned their focus to Cyprus, where lawmakers rejected a planned bailout for banks that would have called for raiding the savings accounts of ordinary citizens, setting a new precedent in Europe's ongoing debt crisis. The vote leaves the Cyprus's future in the euro zone in question.
AT THE CLOSE: The Dow closed with a gain of four points. The Standard & Poor's 500 closed down by the same number of points and has now closed lower for three straight days, its longest losing streak of the year.
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