US stocks mixed

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IOL wall street

US stocks opened mixed Wednesday after housing data came in slightly below expectations and the Bank of Japan announced new stimulus for the world's third-largest economy.

In the first five minutes of trade, the Dow Jones Industrial Average edged up 8.82 points (0.07 percent) to 13,573.46.

The S&P 500-stock index added a mere 0.42 point (0.03 percent) at 1,459.74, while the tech-heavy Nasdaq fell 3.36 points (0.11

percent) to 3,174.44.

Investors weighed August housing starts and building permits data from the Commerce Department ahead of the existing-home sales numbers, due at 16:00 SA time.

“Housing remains one of the strongest sectors of the US economy and this slightly disappointing data doesn't change the outlook,” said Dick Green at Briefing.com.

On Tuesday, stocks closed mixed near the flatline as the euphoria of the Federal Reserve's new QE3 stimulus faded and worries about company profits were heightened by FedEx's downbeat earnings outlook.

The Dow added 0.09 percent, the S&P 500 lost 0.13 percent and the Nasdaq dipped 0.03 percent. - Sapa-AFP


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