Stock Market Update
09-Jul-26 10:35 ET
June Existing Home Sales
Dow +72.87
at 52421.26,
Nasdaq +47.97
at 25939.62,
S&P +17.66
at 7500.37
[BRIEFING.COM] The S&P 500 (+0.3%), Nasdaq Composite (+0.2%), and DJIA (+0.2%) hold on to modest early gains. Semiconductor stocks have come down some from their opening highs, but that has been balanced out by improvements in the broader market, with seven S&P 500 sectors now trading higher.
Existing home sales decreased 2.4% month-over-month in June to a seasonally adjusted annual rate of 4.09 million (Briefing.com consensus: 4.20 million) from an upwardly revised 4.19 million (from 4.17 million) in May. Sales were up 2.8% on a year-over-year basis.
The key takeaway from the report is that affordability conditions improved across all regions as wage growth outpaced home price growth; however, overall sales were still pressured by high prices and elevated mortgage rates.
