Dow climbs on strong new home sales

clock

The Dow Jones made marginal gains in early trading on Wednesday after the number of new homes purchased jumped more than forecast in July.

America's blue chip index is up 9.14 points (0.1%) to 9,548.43 on news sales increased by almost 10%, the most since February 2005, according to Commerce Department figures. Home improvements giant Home Depot Inc added 1.68% to $27.78 and AT&T Inc climbed 1.33% to $26.65. However, Caterpillar and General Electric tumbled 1.08% to $47.32 and 0.84% to $14.18 respectively. In the UK, the FTSE has fallen 14.85 points (0.3%) to 4,901.95, led lower by miners and energy companies. Fresnillo fell 4.71% to 607p, while Antofagasta shed 4.62% to 753p after posting a sharp slide in pre-tax ...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Economics / Markets

More work needed to tackle inflation as BoE members warn of further market turmoil

More work needed to tackle inflation as BoE members warn of further market turmoil

BoE MPC members spoke at Treasury Committee hearing

Sorin Dojan
clock 06 March 2025 • 2 min read
Trump's presidency and tariffs: Advice industry shares views

Trump's presidency and tariffs: Advice industry shares views

‘Stark raving mad’ but ‘great’ for US firms

Isabel Baxter
clock 18 February 2025 • 4 min read
Five-fold surge in advisers buying gilts for clients in 2024

Five-fold surge in advisers buying gilts for clients in 2024

AJ Bell finds 436% increase in gilt purchases on its Investcentre

Isabel Baxter
clock 10 February 2025 • 1 min read