FOX Business: Capitalism Lives Here

U.S. equity markets capped the day mildly lower as traders parsed through mixed data on the American economy. 

Today's Markets

The Dow Jones Industrial Average fell 27.5 points, or 0.16%, to 16824, the S&P 500 dipped 0.9 point, or 0.05%, to 1960 and the Nasdaq Composite advanced 10.3 point, or 0.23%, to 4408.

The Dow and S&P 500 logged mild losses last week in fairly light trading. The subdued tone is expected to persist this week, with the markets closing early Thursday, and then closing completely Friday for the Independence Day holiday in the U.S. 

On the economic front, the National Association of Realtors reported signed contracts to buy previously-owned homes jumped 6.1% in May, the biggest gain since April 2010, higher than the 1.5% increase Wall Street anticipated.

A gauge of manufacturing activity in the Midwest from the Institute for Supply Management-Chicago slowed to 62.6 in June, from 65.5 the month prior. Wall Street expected a reading of 63. Readings above 50 point to expansion while those below indicate contraction.

Elsewhere, U.S. crude oil futures fell 53 cents, or 0.5%, to $105.21 a barrel. Wholesale New York Harbor gasoline dipped 0.5% to $3.083 a gallon. Gold dropped $5.90, or 0.45%, to $1,314 a troy ounce. 

 

Follow Adam Samson on Twitter @adamsamson.