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US Equity Indexes Trend Lower in Midday Trading
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US Equity Indexes Trend Lower in Midday Trading
Dec 31, 2024 9:38 AM

12:19 PM EST, 12/31/2024 (MT Newswires) -- US benchmark stock indexes were declining in midday trading Tuesday, adding to losses from previous sessions.

The Nasdaq slipped 0.3% to 19,440, the S&P 500 lost 0.1% to 5,899.8 and the Dow Jones Industrial Average fell less than 0.1% to 42,565.

Energy and real estate were the top gainers, with the technology sector leading the decliners intraday.

The Case-Shiller National Home Price index fell by 0.2% in October before seasonal adjustment, following a 0.1% decrease in September. National home prices were up 3.6% year over year, slower than a 3.9% gain in September, and were up 0.4% month over month in October after seasonal adjustment.

The Federal Housing Finance Agency's measure of home prices rose by 0.4% in October after an unrevised 0.7% increase in the previous month, as expected in a survey compiled by Bloomberg. Prices were up 4.5% from a year earlier in October. The West South-Central region saw the largest gain, followed by the East North-Central region.

In company news, Affinity Bancshares ( AFBI ) fell 20% in recent trading activity after the company and Atlanta Postal Credit Union agreed to terminate their proposed merger. The decision followed discussions between Atlanta Postal Credit Union and regulatory agencies.

Verastem ( VSTM ) rose past 40% after the US Food and Drug Administration accepted and granted priority review to the new drug application for the company's ovarian cancer drug and has set an action date of June 30.

The US 10-year Treasury yield rose to 4.57% and the two-year rate fell slightly to 4.25%.

The US Dollar Index was up 0.4% to 108.53.

West Texas Intermediate crude rose 1.1% to $71.79 per barrel. Gold was up 0.8% to $2,640 an ounce. Silver fell 0.5% to $29.26 per ounce.

The market will be closed on Wednesday for New Year's Day

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