Stocks mixed in early trading as markets look to U.S. housing, consumer data

Canadian Press, The Canadian Press
0 Comments| June 24, 2014

TORONTO _ Gold stocks gave a minor lift to the Toronto stock market in early trading.

The S&P/TSX composite index added 4.86 points to 15,110.49 as traders looked for reassurance about the American economy from housing and consumer reports coming out during the morning.

The Canadian dollar was down 0.04 of a cent to 93.19 cents US.

U.S. indexes were mainly lower amid weak house price data, with the Dow Jones industrials down 22.33 points to 16,914.93, the Nasdaq up 2.24 points to 4,370.92 and the S&P 500 index down 3.23 points to 1,959.38.

Traders digested data showing that U.S. home prices rose in April from a year ago at the slowest pace in 13 months, reflecting a recent drop-off in sales. The Standard & Poor's/Case-Shiller 20-city home price index rose 10.8 per cent in April from 12 months earlier, down from 12.4 per cent in the previous month and the smallest since March 2013.

Later in the morning, the U.S. Commerce Department is expected to report that new home sales increased to 440,000 in May. Also, the New York-based Conference Board releases its June reading on consumer confidence. The index is expected to edge up to 83.5 from 83 in May.

Tags: GOLD

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