Currently, the major averages are turning in a mixed performance. While the Dow is down 16.82 points or 0.1% at 16,835.02, the Nasdaq is up 9.41 points or 0.2% at 4,407.34 and the S&P 500 is up 0.26 points or less than a tenth of a % at 1,961.22.
The choppy trading on
Traders are likely to keep a close eye on the
Reports on manufacturing and service sector activity, private sector employment, and international trade may also attract some attention in the coming days.
Meanwhile, traders have largely shrugged off a report from the
NAR said its pending home sales index jumped 6.1% to 103.9 in May from 97.9 in April, while economists had expected the index to rise by about 1.0%.
A pending home sale is one in which a contract was signed but not yet closed. Normally, it takes four to six weeks to close a contracted sale.
A separate report from MNI Indicators showed that
MNI said its
Among individual stocks, shares of
Online media giant
On the other hand, shares of
Most of the major sectors are showing only modest moves in mid-day trading, contributing to the lack of direction being shown by the broader markets.
While some strength is visible among railroad, semiconductor, and housing stocks, defense and commercial real estate stocks have moved to the downside on the day.
In overseas trading, stock markets across the
The major European markets also ended the day mixed. While the German DAX Index crept up by 0.2%, the French CAC 40 Index and the
In the bond market, treasuries have moved modestly higher after seeing early weakness. As a result, the yield on the benchmark ten-year note, which moves opposite of its price, is down by 1.1 basis points at 2.521%.
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