Big Q1 Beats After the Close; Markets Struggle to Gain [Yahoo! Finance]
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Source: Yahoo! Finance
Today we saw oil prices come down, jobless claims remain steady and low, and Philly Fed manufacturing jump surprisingly high. This led to all major indices launching into the green, only to mostly give everything back by the closing bell. The Dow gained +0.06%, the S&P 500 was -0.22%, the Nasdaq -0.52% and the small-cap Russell 2000 was -0.29%. Existing Home Sales for the month of March came out this morning at 10am ET. Headline was slightly ahead of estimates to 4.19 million seasonally adjusted, annualized units, from 4.17 million projected. This represents a pullback from the February print of 4.38 million, which is easily the highest tally of the past 12 months, and as such appears to be something of an outlier. For perspective, the 12-month low came in October of 2023, at 3.85 million units. Pending Home Sales data for March is due next Thursday. The Leading Economic Index (LEI) from The Conference Board, also for March, came out today, as well. It saw a deeper-than-expected m
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