Stocks mixed following data
Stocks are mixed at midday, following yesterday's big rally and some conflicting economic data released this morning.
The Dow is down three-tenths of 1 percent.
The broader S&P 500 is up less than one-tenth of 1 percent and the tech-heavy Nasdaq is down one-tenth of 1 percent.
November pending sales of previously occupied homes unexpectedly fell 16 percent, according to the National Association of Realtors, signaling a pullback in the housing recovery. It marked the first decline after nine straight months of gains in home sales. The rush to buy a house and take advantage of the government's tax credit appears to have slowed after the credit was extend until spring.
On the other side of the data, orders to U.S. factories jumped 1.1 percent in November, the Commerce Department said this morning, with gains from steel to computers. The gain was double what was expected and may help eat into the nation's unemployment rate of 10 percent, as factories hire to meet demand.
-- Frank Ahrens
January 5, 2010; 12:55 PM ET
Categories: The Ticker | Tags: Dow Jones, nasdaq, s&p 500
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