* Upbeat housing data underpins recovery hopes

* Multinationals rise amid U.S. dollar weakness

* Financials drop on equity offerings

* Dow and S&P 500 each up 0.2 pct; Nasdaq up 0.4 pct

* For up-to-the-minute market news click [STXNEWS/US] (Updates with Aetna cutting outlook and stock sliding after the bell, latest Nasdaq volume)

By Ellis Mnyandu

NEW YORK, June 2 (Reuters) - U.S. stocks rose for a fourth straight day on Tuesday as an upbeat report on home sales bolstered hopes for an economic recovery as well as shares in construction companies.

But a sell-off in financials on worries about the dilutive impact of recent stock offerings limited a broader advance.

An index of pending sales of previously owned U.S. homes shot up 6.7 percent in April, the biggest monthly gain in 7-1/2 years, according to the National Association of Realtors. For details, see [ID:nN02504191]