U.S. stocks were slightly higher Thursday after dipping mostly lower as an index of manufacturing activity in the Philadelphia region unexpectedly dropped in May. Resales of U.S. single-family homes and condos fell 0.8% to a seasonally adjusted annual rate of 5.05 million in April, the National Association of Realtors reported Thursday. The drop came as a surprise to Wall Street.
May 19, 2011
U.S. stocks erase most gains on disappointing data
U.S. stocks were slightly higher Thursday after dipping mostly lower as an index of manufacturing activity in the Philadelphia region unexpectedly dropped in May. Resales of U.S. single-family homes and condos fell 0.8% to a seasonally adjusted annual rate of 5.05 million in April, the National Association of Realtors reported Thursday. The drop came as a surprise to Wall Street.
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