The strength on
NAR said existing home sales climbed to a seasonally adjusted annual rate of 5.15 million in July from a downwardly revised 5.03 million in June. Economists had expected existing home sales to drop to a rate of 5.00 million.
Banking and telecom stocks are seeing some strength in early trading, although most of the major sectors are showing only modest moves.
Currently, the major averages are all in positive territory, although the Nasdaq is up only 1.75 points or less than 0.1% at 4,528.23. The Dow is up 73.51 points or 0.4% at 17,052.64, while the S&P 500 is up 5.73 points or 0.3% at 1,992.24.
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