U.S. stocks mixed on housing data in listless trading; Dow up 0.16%
Published Dec 30, 2013 04:21PM ET
At the close of U.S. trading, the Dow Jones Industrial Average rose 0.16%, the S&P 500 index fell 0.02%, while the Nasdaq Composite index fell 0.06%.
The National Association of Realtors reported earlier that its pending home sales index increased by a seasonally adjusted 0.2% in November, far shy of market expectations for a 1.0% gain. Pending home sales for October were revised to a 1.2% decline from a previously reported drop of 0.6%.
Investors took the data in stride as overall, stocks are poised to post their strongest year since 1997 due to a more robust U.S. economy and also due to Federal Reserve monetary support.
The Federal Reserve announced recently it would trim USD10 billion from its USD85 billion in monthly bond-buying purchases beginning in January.
While Fed bond purchases tend to bolster stocks by suppressing borrowing costs, a decision to taper the stimulus program signifies a more robust economy lies just down the road, which is also bullish for equities.
Leading Dow Jones Industrial Average performers included Walt Disney, up 2.53%, Cisco, up 1.07%, and Coca-Cola, up 1.06%.
The Dow Jones Industrial Average's worst performers included Exxon Mobil, down 1.13%, Chevron, down 0.73%, and Boeing, down 0.72%.
European indices, meanwhile, finished lower.
After the close of European trade, the EURO STOXX 50 fell 0.19%, France's CAC 40 fell 0.05%, while Germany's DAX 30 fell 0.39%. Meanwhile, in the U.K. the FTSE 100 finished down 0.29%.
Get The News You Want
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.