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Read more about US Stocks mostly up on labour data on Business Standard. At the close of trade, the Dow Jones Industrial Average index advanced 141.59 points, or 0.41%, to 34,465. The S&P 500 index added 489 points, or 0.12%, at 4,201. The tech-heavy Nasdaq Composite Index fell 1.72 points, or 0.01%, to 13,736.
U.S. Pending Home Sales Plunge To Lowest Level In Almost A Year
WASHINGTON (dpa-AFX) - A report released by the National Association of Realtors on Thursday showed pending home sales in the U.S. unexpectedly tumbled to their lowest level in nearly a year in the month of April.
NAR said its pending home sales index plunged by 4.4 percent to 106.2 in April after surging up by 1.7 percent to a downwardly revised 111.1 in March.
The steep drop surprised economists, who had expected pending home sales to increase by 0.8 percent compared to the 1.9 percent jump originally reported for the previous month.
The US stock market finished session mixed on Friday, 21 May 2021, as losses in technology and consumer discretionary shares were offset by gains in financials and industrials shares.
At the close of trade, the Dow Jones Industrial Average index advanced 123.69 points, or 0.36%, to 34,208. The S&P 500 index was down 3.26 points, or 0.08%, at 4,156. The tech-heavy Nasdaq Composite Index fell 64.75 points, or 0.48%, to 13,471.
For the week, the Nasdaq climbed by 0.3%, while the Dow and the S&P 500 slid by 0.5% and 0.4%, respectively.
Total 6 out of 11 S&P 500 sectors closed down, with consumer discretionary (down0.59%), information technology (down 0.52%), and communication services (down 0.28%) sectors being notable losers, while financials (up 0.9%), utilities (up 0.54%), and industrials (up 0.43%) were notable gainers.
U.S. Existing Home Sales Unexpectedly Tumble 2.7% In April
WASHINGTON (dpa-AFX) - Existing home sales in the U.S. unexpectedly saw a continued decrease in the month of April, according to a report released by the National Association of Realtors on Friday.
NAR said existing home sales tumbled by 2.7 percent to an annual rate of 5.85 million in April after plunging by 3.7 percent to a rate of 6.01 million in March. The slump surprised economists, who had expected existing home sales to surge up by 2.0 percent.
Existing home sales declined for the third straight month but were still up by 33.9 percent compared to the same month a year ago.