The choppy trading on
Meanwhile, traders have largely shrugged off the release of a report from the
NAR said existing home sales jumped 4.9% to a seasonally adjusted annual rate of 4.89 million in May from an upwardly revised 4.66 million in April. Economists had expected existing home sales to climb to an annual rate of 4.75 million.
Most of the major sectors are showing only modest moves in early trading, contributing to the lackluster performance by the broader markets.
Gold stocks are seeing considerable strength, however, with the NYSE Arca Gold Bugs up by 1.3%. The strength in the sector comes despite a modest decrease by the price of gold.
Steel and housing stocks have also moved to the upside, while weakness has emerged among airline and tobacco stocks.
Currently, the major averages are posting slim losses on the day. The Dow is down 25.31 points or 0.2% at 16,921.77, the Nasdaq is down 2.40 points or 0.1% at 4,365.64 and the S&P 500 is down 0.25 points or less than a tenth of a % at 1,962.62.
Most Popular Stories
- Neighbor Warns Chris Brown to Stay Off His Property
- Venezuelan Officials Banned From Traveling in U.S.
- Homeowners More Satisfied With Mortgage Servicers
- WWE Showing Off Its Muscles
- As Jobs Market Strengthens, Many Don't Feel It
- Ford Tremor: Easy to Park, Hard to Pay For
- Adrienne Bailon Disses Ex-Lover Rob Kardashian
- Target Taps Pepsi Exec as New CEO
- Hispanic Arts Leaders Unite Across the Border
- Islamic State Fights for Control of Syrian Oil Wealth