Stock Market Update

[BRIEFING.COM] The S&P 500 (-0.1%), Nasdaq Composite (+0.1%), and DJIA (-0.1%) remain near their baselines as action remains flattish, with seven S&P 500 sectors currently trading within 0.2% of their unchanged levels. 

Existing home sales increased 1.7% month-over-month in February to a seasonally adjusted annual rate of 4.09 million (Briefing.com consensus 3.88 million) from a revised 4.02 million (from 3.91 million) in January. Sales were down 1.4% on a year-over-year basis.

The key takeaway from the report is that sales increased despite continued pressure on affordability as median prices grew for the 32nd month in a row.