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Market Wrap for Wednesday, July 24: Stocks Largely Lower Despite Jump in New Home Sales

Despite a report which showed that new home sales in the U.S. are at a 5-Year high, the stock market was largely lower on Wednesday.The losses, however, were modest and the Nasdaq actually finished slightly positive on the day. Investors dumped commodities and U.S. Treasuries on the session while the U.S. Dollar rose.Volume remained well-below 3-month averages despite a spate of earnings reports released on Tuesday after the close and prior to Wednesday's opening bell. Volatility expectations rose on the session despite only small losses for the Dow and S&P 500, which remain near all-time highs.Related: Earnings Expectations for the Week of July 22Major AveragesThe Dow Jones Industrial Average fell 27 points, or 0.17 percent, to close at 15,541.The S&P 500 lost around 6 points, or 0.38 percent, to finish at 1,686.The Nasdaq added less than a point, or 0.01 percent, to 3,580.New Home SalesNew home sales rose for a third consecutive month in June, up 8.3 percent to 497,000 from 459,000 i...

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