Stock Market Update
11-Aug-26 10:30 ET
July existing home sales
Dow +63.30
at 54039.28,
Nasdaq -8.54
at 26617.84,
S&P +7.11
at 7760.22
[BRIEFING.COM] The S&P 500 (+0.1%) has surfaced above its flat line, with the Nasdaq Composite (-0.1%) and DJIA (flat) also little changed.
Existing home sales decreased 1.7% month-over-month in July to a seasonally adjusted annual rate of 4.06 million (Briefing.com consensus: 4.07 million) from an upwardly revised 4.13 million (from 4.09 million) in June. Sales were up 0.7% on a year-over-year basis.
The key takeaway from the report is that mortgage rates above 6.00%, limited inventory, and elevated prices continue to work against stronger existing home sales activity.
