The S&P/Case-Shiller Home Price Index was released showing an increase in home prices of 4.61% year over year in May, above the increase of 3.85% that economists had expected. Month-over-month, home prices were 0.47% higher, compared to forecasts, which called for a gain of 0.20%.
The Conference Board released its consumer Confidence Index report, which deteriorated to a level below expectations, falling to 50.4 in July, compared to the expectation of a drop to 51.0 from June’s upwardly revised 54.3.
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The Richmond Fed Manufacturing Index deteriorated in July to 16 from 23 in June, but the forecast of economists called for a decline to 12, and a reading above zero denotes expansion.
The Dow Jones Industrial Average rose 12 points (0.1%) to close at 10,538, while the S&P 500 Index edged 1 point (0.1%) lower to finish at 1,114, and the Nasdaq Composite lost 8 points (0.4%) to 2,288. Crude oil fell $1.48 to $77.50 per barrel, and the Bloomberg gold spot price tumbled $22.30 to $1,161.25 per ounce.
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