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HomeNewsEconomyDow Gut-checked At Open By Latest Economic Data

Dow Gut-checked At Open By Latest Economic Data


Dow Gut-checked At Open

The National Association of Realtors reports sales of existing single-family home rose 1% to an annualized rate of 4.87 million units in December, below the Street’s expectation for 4.94 million units.

The Dow had fallen 140 points before 10:00 A.M. ET, or 0.86 percent, after a report showed U.S. factory growth skidded to the lowest level since October and corporate heavyweights revealed mixed quarterly earnings. The broader S&P 500 is down 0.7%, with every major sector in the red.

The number of Americans filing for first-time weekly jobless claims rose last week to 326,000 from a downwardly revised 325,000. Wall Street expected the number of claims to hold steady at 326,000.

Written by

Rich, the People's Pundit, is the Data Journalism Editor at PPD and Director of the PPD Election Projection Model. He is also the Director of Big Data Poll, and author of "Our Virtuous Republic: The Forgotten Clause in the American Social Contract."

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