The S&P 500 and the Nasdaq scored a sixth straight quarter of gains as a surge in pending home sales offset weaker-than-forecast manufacturing data.
The S&P 500 and the Nasdaq Composite indexes scored a sixth straight quarter of gains on Monday, a streak not seen since 1998, as a surge in pending home sales offset weaker-than-forecast manufacturing data.
The three major US stock indexes, however, closed little changed for the day, following a set of mixed economic data. The Dow Jones industrial average fell 25 points or 0.15%, to 16,827. The S&P 500 was little changed at 1,960. The Nasdaq Composite added 10 points or 0.23%, to 4,408.
The market barely reacted yesterday after data from the Institute for Supply Management-Chicago showed the pace of business activity in June in the US Midwest dipped more than expected from a seven-month high, and the National Association of Realtors’ pending home sales index showed contracts to buy previously owned US homes hit an eight-month high in May.
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