Pending home sales surprised to the downside, with contracts to buy previously-owned homes falling 16.0% month-over-month in November, worse than the expectation of a fall of 2.0%, and October was revised higher to an increase of 3.9%, versus the initially reported gain of 3.7%.
Factory orders rose 1.1% month-over-month in November, beating the 0.5% rise forecast, while October’s increase was revised upward from 0.6% to 0.8%, the third-straight monthly increase, led by gains in business equipment.
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The Dow Jones Industrial Average dipped 12 points (0.1%) to close at 10,572, while the S&P 500 Index added 4 points (0.3%) to 1,137, and the Nasdaq Composite was flat at 2,309. Crude oil was $0.35 higher at $81.86 per barrel, and the Bloomberg gold spot price decreased $1.70 to $1,119.50 per ounce.
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