The decline is halted as selling pressure eases after a
better-than-expected home sales report hits the wires, although the
major indices still trade with substantial losses.
June pending home sales rose 5.3%, which is better than the expected decline of 1.0%.
All ten of the sectors are in negative territory, led by a 1.8% drop in
financials as AIG (AIG 24.59, -4.50) plunges 16%. The energy (-0.1%)
and tech (-0.1%) sectors are outperforming on a relative basis
The tech-heavy Nasdaq is outperforming, as it did yesterday, with a loss of 0.5% compared to the S&P 500's decline of 0.8%.