Existing home sales fell 2.0% to an annual pace of 4.93 million units, just above the estimate of 4.92 million units, indicating the housing market remains very soft. Details from Bloomberg...
The Dow Jones Industrial Average dropped 105 points (0.8%) to close at 12,720, the S&P 500 Index fell 12 points (0.9%) to 1,376, and the Nasdaq Composite declined 31 points (1.3%) to 2,377. Crude oil gained $1.89 to $119.37 per barrel, and gold ended up $3.80 at $918.50 per ounce.
Magnificent Seven Update
