Retailers and other consumer companies rose after mixed housing data.
Used-home sales fell 5.4% in June from the prior month to a seasonally adjusted annual rate of 5.12 million, the weakest rate since June 2020, the National Association of Realtors said. Mortgage applications continue to fall sharply as the average 30-year mortgage rate lingers around 5.5%. The national median home price continued to climb, rising 13% in June from the previous year to $416,000.
"Both prices of homes and borrowing costs are surging and that will undoubtedly lead to even softer [sales data] for the rest of the year," said Edward Moya, senior market analyst at foreign-exchange brokerage Oanda Group.
Consumer confidence in the eurozone declined in July due to the increasing cost of living and a slowdown of the economy, falling to its lowest level on record. The European Commission said its measure of consumer confidence in the region fell to minus-27.0 in July from a revised figure of minus-23.8 in June, the most pessimistic on record, as Russia threatens to push up natural gas prices going into the heating season.
Burrito chain Chipotle Mexican Grill is closing a store in Maine where workers were trying to unionize.
Casinos in the gambling hub of Macau will be allowed to reopen Saturday after a nearly two-week shutdown amid a Covid-19 outbreak, according to the government. Shares of Las Vegas Sands and Wynn Resorts, both of which operate casinos in Macau, rose sharply after the report.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
07-20-22 1730ET
