US benchmark equity indexes closed mixed Wednesday as markets reacted to a report showing a decline in new single-family houses in January.
The Nasdaq Composite gained 0.02% to 19,030.5, while the S&P 500 fell 0.1% to 5,950.3. The Dow Jones Industrial Average rose 0.4% to 43,433.7. Among sectors, consumer staples was the steepest decliner, while technology led the gainers.
US Treasury yields slid, with the 10-year rate sinking about 0.05 basis points to 4.25% and the two-year rate saw little change at 4.08%.
West Texas Intermediate crude oil declined 0.2% to $68.79 a barrel Wednesday.
In economic news, US new home sales fell to a 657,000 annual rate in January from an upwardly revised 734,000 rate in December, below the 664,000 January 2024 estimate, according to a joint report by the US Census Bureau and the Department of Housing and Urban Development.
Mortgage applications declined by 1.2% in the week ended Friday as high prices for housing offset a drop in mortgage rates, according to Mortgage Bankers Association data.
In company news, Advance Auto Parts (AAP) fell 18% after the company's Q4 loss widened year-over-year with a decline in revenue.
ZoomInfo Technologies (ZI) gained over 23% after the company issued a full-year earnings outlook ahead of market estimates.
AppLovin (APP) dropped 12% after short sellers Fuzzy Panda Research and Culper Research released two separate allegations about the company.
Gold increased 0.4% to $2,930.2 per troy ounce, while silver was up 1% to $32.15 per troy ounce.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.