U.S. stocks mixed on housing data in listless trading; Dow up 0.16%


Investing.com - Stock prices finished Monday mixed to higher in quiet trading as investors shrugged off weaker-than-expected housing data and looked head to early 2014 to see how fourth-quarter earnings and economic growth rates perform.

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%.

Investing.com offers an extensive set of professional tools for the financial markets.
Read more News on Investing.com and download the new Investing.com Stocks & Finance App for Android!

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ, Inc.

This article appears in: Investing , Forex and Currencies

Referenced Stocks:



More from Investing.com:

Related Videos



Most Active by Volume

  • $6.975 ▲ 47.78%
  • $10.465 ▼ 4.95%
  • $13.63 ▲ 1.26%
  • $5.7649 ▲ 1.49%
  • $15.805 ▲ 0.35%
  • $110.31 ▲ 0.74%
  • $27.91 ▼ 0.43%
  • $7.82 ▲ 0.90%
As of 10/9/2015, 09:58 AM

Find a Credit Card

Select a credit card product by:
Select an offer:
Data Provided by BankRate.com