Stock Market Update

[BRIEFING.COM] The Dow Jones Industrial Average (-0.2%) and S&P 500 (-0.1%) are lower heading into the close while the Nasdaq Composite (+0.2%) remains above its prior close, propelled by gains in some mega caps.

Today's economic data contributed to some selling interest under the index surface after the Consumer Confidence Index showed a fourth consecutive decline, and the Expectations Index fell to its lowest level (65.2) in 12 years, with worries about future employment prospects and inflation pacing that downturn. Separately, new home sales increased a modest 1.8% month-over-month in February, yet higher-priced homes made up a smaller percentage of sales than the prior month.

Wednesday's economic lineup features: 

• 7:00 ET: Weekly MBA Mortgage Index (prior -6.2%)
• 8:30 ET: February Durable Orders (Briefing.com consensus -1.2%; prior 3.1%) and Durable Orders ex-transport (Briefing.com consensus 0.1%; prior 0.0%)
• 10:30 ET: Weekly crude oil inventories (prior +1.75 mln)