U.S. stocks closed
little changed, with the Standard & Poor’s 500 Index slipping from a
record, after data showing housing starts surged to a seven-year high
bolstered speculation the Federal Reserve may raise interest rates this
year.
The Standard &
Poor’s 500 Index declined 0.1 percent to 2,127.87 at 4 p.m. in New York,
snapping a three-session string of all-time highs. The Dow Jones
Industrial Average rose 0.1 percent to a record for a second day. The
Nasdaq Composite Index lost 0.2 percent.
A report today showed
new residential construction surged in April to the highest level since
November 2007, while more permits, a proxy for future construction, were
issued than at any time since June 2008.
Source : Bloomberg
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