Existing home sales unexpectedly rose in December, to a rate of 4.74 million units on an annualized basis, up 6.5% month-over-month, versus an expectation of a fall of 2.0% to a rate of 4.4 million units. Year-over-year sales fell 3.5%.
The Leading Index increased 0.3% in December, better than the 0.2% decline that economists expected, and November was unrevised at -0.4%. An increase in the real money supply was the biggest positive contributor due to the unconventional measures the Fed has been taking to support economic activity.
The Dow Jones Industrial Average rose 38 points (0.5%) to close at 8,116, the S&P 500 Index gained 5 points (0.6%) to 837, and the Nasdaq Composite advanced 12 points (0.8%) to 1,489. Crude oil lost $0.74 to $45.73 per barrel, and gold ended up $7.70 at $903.50 per ounce.
Magnificent Seven Update
Daily Update Of Open Positions...Stocks & ETFs
