The Dow Jones industrial average and the S&P 500 were slightly higher on Wednesday while the Nasdaq composite edged lower, as investors assessed earning ahead of a statement from the U.S. Federal Reserve that could give clues regarding the timing of a rate hike.
Pending home sales in the U.S. fell unexpectedly in June, dampening optimism over the health of the housing sector, industry data showed on Wednesday. In a report, the National Association of Realtors said its pending home sales index fell by a seasonally adjusted 1.8% last month, disappointing expectations for a gain of 1.0%. Pending home sales in May rose by 0.6%, whose figure was revised down from a previously reported gain of 0.9%.
The dollar remained moderately higher against the other major currencies on Wednesday, even after data showed that U.S. pending home sales unexpectedly fell in June, as investors awaited the Federal Reserve’s rate statement later in the day. EUR/USD was down 0.22% at 1.1034, holding below Monday’s two-week highs of 1.1128.
The euro remained modestly lower against the dollar on Wednesday after data showed that U.S. pending home sales unexpectedly fell in June, snapping five months of gains, as investors awaited the upcoming Federal Reserve rate statement.
Credit and debit card issuer MasterCard Inc (N:MA) reported lower-than-expected quarterly revenue as the company offered more rebates and incentives to win new and renewed deals.
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