Dow Languishes as Abysmal Housing Data Threatens Market Recovery

By CCN: The Dow and broader U.S. stock market traded mixed-to-lower on Monday, as disappointing housing data threw cold water on hopes that the real estate sector was finally turning a corner after last year’s slowdown. Dow Struggles; S&P 500 Flat-Lines After losing as much as 101 points, the Dow Jones Industrial Average pared losses to trade 48 points lower at 26,511.52. The broad S&P 500 Index of large-cap stocks pared losses to settle at 2,905.16, where it was virtually unchanged. Energy stocks surged 2% as oil prices extended their rally. Real estate, the S&P 500’s smallest component, fell 1.7%.

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