US stock market cuts losses on strong housing data
Market recovers from opening lows despite losses in overseas markets. (AP Photo/Richard Drew, File)
New York (AP) — U.S. markets are down slightly but off earlier lows with new data showing that the pace of new home construction is hitting levels not seen since the beginning of the recession.
The Dow Jones industrial average fell 21 points to 17,523 as of 11:55 a.m. Eastern. The Standard & Poor's 500 index slipped 4.34 points, or 0.21 percent, to 2,098, and the Nasdaq composite sank 18.79 points, or 0.7 percent, to 5,073.
Wal-Mart is weighing on stocks after the world's biggest retailer cut its outlook.
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The Gayly – August 18, 2015 @ 11:20am.