NEW YORK (Reuters) - Financial and housing shares nudged Wall Street higher on Tuesday after U.S. existing home sales rose in April to their highest rate in nearly two years, but gains were capped by investors' concerns about the global economic outlook. Shares of Facebook Inc fell as much as 9 percent at the open and hurt sentiment about tech shares as doubts about the company's valuation increased after Reuters reported that Morgan Stanley , the lead underwriter, cut revenue forecasts for the social networking site shortly before the IPO. Sales of existing U.S. ...

NEW YORK (Reuters) - Former Goldman Sachs director and McKinsey & Co executive Rajat Gupta was on a list of "important people" that now-imprisoned hedge fund manager Raj Rajaratnam was willing to be disturbed to take their phone calls, his onetime secretary testified at Gupta's insider-trading trial on Tuesday. The former Galleon Group employee Caryn Eisenberg also told the Manhattan federal court jury that she saw Gupta "many times" in the firm's 34th floor Madison Avenue office in 2008 and 2009. ...

WASHINGTON (Reuters) - The top securities regulator said on Tuesday that the problems surrounding Facebook's initial public offering should be reviewed, but those issues should not shake investor confidence in the markets. "I think there is a lot of reason to have confidence in our markets and in the integrity of how they operate, but there are issues that we need to look at specifically with respect to Facebook," Securities and Exchange Commission Chairman Mary Schapiro told reporters as she exited a Senate Banking Committee hearing. ...

WASHINGTON (Reuters) - Home resales rose in April to their highest annual rate in nearly two years and a falloff in foreclosures pushed prices higher, hopeful signs for the country's economic recovery. The National Association of Realtors said on Tuesday that existing home sales increased 3.4 percent to an annual rate of 4.62 million units last month, the highest since May 2010. "The housing market is showing some signs of life," said Gary Thayer, a macro strategist at Wells Fargo Advisors in St. Louis. Nationwide, the median price for a home resale jumped to $177,400 in April, up 10. ...