Stocks wavered throughout the day and finished mixed on low trading volume, though the major indexes turned in another quarter of gains. Several data reports were released, but much focus will be on the employment data scheduled for early release Thursday on account of the July 4 holiday. Treasuries were mostly flat but look to finish the April-June quarter with gains.
Pending home sales for May increased 6.1% compared with April's reading, marking the best month-over-month gain in more than four years. April's reading was revised higher, and the May number was well higher than economists' expectations. That said, sales were 5.2% lower compared with the same time last year, but the recent data show that home-sales conditions are improving after the winter slump.
Meanwhile, the Chicago business barometer fell this month to a reading of 62.6 versus its May index of 65.5. The June reading was below expectations and for the third consecutive month remained more than 10 points higher than the threshold reading of 50, above which any reading indicates expanding conditions.
The Dow fell 0.2%. The S&P 500 was flat, while the Nasdaq rose 0.2%.
Stocks on the Move
PPG Industries (PPG) announced it will acquire Mexico-based Consorcio Comex in a deal valued at $2.3 billion. PPG says the move will augment its architectural coatings business by giving it a footprint in Mexico and Central America. PPG Shares gained 3%.