U.S. stocks ended narrowly mixed Monday, with the Dow
Industrials holding on to a small gain, but the broader S&P 500
and Nasdaq Composite under water after November pending home sales
rose less than expected, according to a National Association of
Realtors report today.
Contracts to purchase previously owned U.S. homes increased 0.2%
last month, lagging the 1.0% rise that market experts polled by
Bloomberg were expecting. The industry group also said October
sales fell more than first reported, declining 1.2%. Both figures
rekindled fears that Federal Reserve plans to cut back on its
bond-buying program and the subsequent rise in interest rates could
stall a recovery for the residential real estate market.
Industry sectors in the S&P 500 were split roughly equally
between winners and losers, with the best gains coming among shares
of consumer discretionary and basic materials companies. Consumer
staple, utility and health care stocks - traditionally seen as
defensive sectors - also are posting small gains.
Energy stocks were lower today, matching declines in crude oil
and natural gas futures in commodities trade. Crude oil for
February delivery dropped $1.03 at $99.29 per barrel while February
natural gas was down 6 cents to $4.43 per 1 million BTU. Metals
also were lower today, with February gold slipping $10.60 to
$1203.70 per ounce while March silver declined 43 cents to $19.63
per ounce. Copper was little changed at $3.38 per pound.
Here's where the U.S. markets stood at mid-day:
Dow Jones Industrial Index up 25.94 (+0.16%) to 16,504.35
S&P 500 down 0.32 (-0.02%) to 1,841.08
Nasdaq Composite Index down 2.40 (-0.06%) to 4,154.20
Hang Seng Index up 0.01%
Shanghai China Composite Index down 0.18%
FTSE 100 Index down 0.29%
(+) ELMD, Receives FDA market clearance for its next-generation
SmartVest Airway Clearance System, a high-frequency chest wall
oscillation device for people with cystic fibrosis and other
(+) KNDI, Shares climb to all-time record after Forbes magazine
publishes positive weekend article about the company's electric
car-sharing project in the Chinese city of Hangzhou, adding to
(+) CTB, Reverses earlier declines that followed the tire
company scrapping a proposed $2.5-bln buyout by Apollo Tyres,
saying financing for the deal is no longer feasible after a
valuation disagreement with its Indian rival.
(-) MYGN, The Center for Medicare and Medicaid Services confirms
reimbursement cuts for the company's genetic tests for
breast-cancer vulnerability. JMP Securities and Mizuho both
downgrade the stock; Piper Jaffray and Leerink Swann cut price
(-) WPCS, Receives notice of resignation from CohnReznick LLP,
the company's independent registered public accounting firm.
(-) WFC, Resolves dispute with Fannie Mae (
) over repurchase demands on loans originated prior to 2009, making
a one-time cash payment of $541 mln to FNMA. FNMA shares were
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