U.S. Stocks Shrug Off Mixed Data, Firming in Midday Trade
Stocks were higher at midday as investors largely shrugged off mixed economic data this morning. Energy stocks led the gains as oil prices rebounded from Monday's slump to their lowest level since 2004. Final Q3 GDP matched expectations with 2% growth while the October Federal Housing Finance Agency home price index rose 0.5%. Stocks took a brief hit when November existing home sales missed expectations, plunging 10.5% from year-ago levels, although the National Association of Realtors blamed the weakness on new regulations that came into effect in October.
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