Equities Mostly Higher as Traders Parse Macro Data

MT Newswires Live12-24 04:46

US benchmark equity indexes were mostly higher ahead of Monday's close as markets assessed the latest economic data.

The Nasdaq Composite was up 0.8% at 19,724.8, while the S&P 500 rose 0.5% to 5,959.1. The Dow Jones Industrial Average was little changed at 42,835.3. Among sectors, communication services paced the gainers, while consumer staples posted the biggest drop.

US markets will close early Tuesday and remain closed Wednesday for the Christmas Day holiday.

US consumer confidence dropped by 8.1 points to 104.7 this month, the Conference Board said. The expectations index slumped 12.6 points to 81.1, just above the 80 threshold that usually indicates a recession ahead, according to the report.

Sales of new single-family houses in the US rose 5.9% sequentially to a seasonally adjusted annual rate of 664,000 in November, according to government data. A Bloomberg consensus indicated 670,000.

US durable goods orders dropped more than projected in November led by transportation equipment, government data showed.

The US 10-year yield increased 6.7 basis points to 4.59%, while the two-year rate gained 3.4 basis points to 4.35%.

West Texas Intermediate crude oil eased 0.1% at $69.38 a barrel.

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