Money - International
US stocks flat on good housing data, mixed retail earnings
Traders and financial professionals work on the floor of the New York Stock Exchange (NYSE) ahead of the closing bell, June 21, 2019 in New York City. u00e2u20acu201d AFP pic

NEW YORK, Nov 19 — Wall Street stocks were little changed early today following strong housing data and gains by Boeing that were offset by mixed earnings from retailers.

Permits for new home construction jumped five per cent in October from September, surpassing expectations to reach their fastest pace since May of 2007. Actual home construction also rose, but more slowly and in line with expectations.

Meanwhile, Boeing shares jumped 1.3 per cent after announcing new orders and a letter of intent for additional purchases of its troubled 737 MAX plane, which has been grounded since March because of two crashes.

About 25 minutes into trading, the Dow Jones Industrial Average was down 0.1 per cent at 27,017.27, retreating a bit from yesterday’s record.

The broad-based S&P 500 was up a hair at 3,122.59, while the tech-rich Nasdaq Composite Index gained 0.1 per cent to 8,560.79.

US indices finished at records yesterday as optimism over the upcoming holiday shopping season offset doubts about the state of US-China trade talks.

Today, shares of Home Depot fell 4.7 per cent and Kohl’s slumped 16.5 per cent, while TJX gained 2.0 per cent following earnings reports that offered a mixed view of the retail market. — AFP

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