Source: Sharecast
As of 1440 BST, the Dow Jones Industrial Average was up 0.12% at 44,966.48, while the S&P 500 shed 0.19% to 6,437.14 and the Nasdaq Composite came out of the gate 0.36% weaker at 21,552.67.
The Dow opened 54.66 points higher on Tuesday, more than reversing losses recorded in the previous session.
Traders were continuing to look out for hints as to just what Federal Reserve chairman Jerome Powell will look to do at the Fed's remaining policy meetings this year, with central bank heads from across the world set to converge upon Jackson Hole, Wyoming this week for the Fed's annual economic symposium. Fed funds futures are currently pricing in an 83% chance for a 25 basis point rate cut at the Fed's September meeting.
On the macro front, US building permits fell by 2.8% to a seasonally adjusted annualised rate of 1.35m in July, according to the Census Bureau, the lowest reading since June 2020 and below market expectations of 1.39m. Permits for buildings with five or more units dropped by 9.9% to an annualised rate of 430,000, while single-family permits increased by 0.5% to 870,000.
Housing starts, on the other hand, rose by 5.2% month-on-month to a seasonally adjusted annualised rate of 1.42m in July, the biggest increase in five months and in contrast with market expectations of a drop to 1.29m, extending the upwardly revised 5.9% jump from June. Starts were carried by housing with five or more units for a second month, up 11.6% to 470,000, faster than one-unit starts, up 2.8% to 939,000.
Still to come, Federal Reserve banker Michelle Bowman will deliver a speech at 1910 BST.
In the corporate space, shares in DIY retailer Home Depot traded lower after reporting weaker-than-expected second-quarter earnings. However, Home Depot opted to maintain its full-year guidance.
Reporting by Iain Gilbert at Sharecast.com
Dow Jones - Risers
Unitedhealth Group Inc. (UNH) $308.49 1.47%
Caterpillar Inc. (CAT) $412.64 1.19%
Cisco Systems Inc. (CSCO) $66.95 1.13%
Walt Disney Co. (DIS) $116.55 1.01%
Procter & Gamble Co. (PG) $155.69 0.88%
Walmart Inc. (WMT) $100.64 0.70%
Salesforce.Com Inc. (CRM) $243.97 0.63%
Nike Inc. (NKE) $77.39 0.60%
American Express Co. (AXP) $306.87 0.52%
JP Morgan Chase & Co. (JPM) $291.53 0.36%
Dow Jones - Fallers
Intel Corp. (INTC) $23.66 -3.66%
Amgen Inc. (AMGN) $292.62 -1.30%
Boeing Co. (BA) $232.41 -1.21%
Home Depot Inc. (HD) $394.70 -1.17%
Coca-Cola Co. (KO) $69.13 -1.13%
Chevron Corp. (CVX) $155.32 -0.79%
Microsoft Corp. (MSFT) $517.10 -0.59%
Dow Chemical Co. (DOW) $23.30 -0.51%
Visa Inc. (V) $342.74 -0.50%
Apple Inc. (AAPL) $230.89 -0.30%
S&P 500 - Risers
CenturyLink Inc. (LUMN) $4.68 5.87%
Bath & Body Works, Inc. (BBWI) $30.17 5.16%
Royal Caribbean Cr (RCL) $326.80 4.09%
Macy's Inc. (M) $13.26 3.59%
Seagate Technology Plc (STX) $158.70 2.77%
CVS Health Corp (CVS) $70.17 2.29%
Hewlett Packard Enterprise (HPE) $21.63 2.22%
Micron Technology Inc. (MU) $123.55 2.22%
Starbucks Corp. (SBUX) $92.54 2.14%
Johnson Controls International plc (JCI) $105.77 2.12%
S&P 500 - Fallers
TripAdvisor Inc. (TRIP) $16.72 -5.11%
Intel Corp. (INTC) $23.66 -3.66%
Coterra Energy Inc. (CTRA) $23.24 -3.29%
Electronic Arts Inc. (EA) $169.16 -3.15%
Apartment Investment & Management Co. (AIV) $7.70 -2.54%
Baxter International Inc. (BAX) $23.61 -2.36%
Incyte Corp. (INCY) $84.92 -2.30%
Meta Platforms Inc. (META) $767.37 -2.27%
United Parcel Service Inc. (UPS) $86.51 -2.23%
Clorox Co. (CLX) $119.48 -2.20%
Nasdaq 100 - Risers
Seagate Technology Plc (STX) $158.70 2.77%
Workday, Inc. (WDAY) $231.85 2.55%
Micron Technology Inc. (MU) $123.55 2.22%
Starbucks Corp. (SBUX) $92.54 2.14%
Cadence Design Systems Inc. (CDNS) $356.25 1.82%
Align Technology Inc. (ALGN) $144.94 1.76%
Western Digital Corp. (WDC) $76.29 1.64%
Booking Holdings Inc. (BKNG) $5,532.00 1.42%
Tesla Inc (TSLA) $335.16 1.39%
Synopsys Inc. (SNPS) $625.33 1.20%
Nasdaq 100 - Fallers
Intel Corp. (INTC) $23.66 -3.66%
Electronic Arts Inc. (EA) $169.16 -3.15%
Qvc Group Inc Series A (QVCGA) $4.06 -2.64%
Incyte Corp. (INCY) $84.92 -2.30%
Meta Platforms Inc. (META) $767.37 -2.27%
Idexx Laboratories Inc. (IDXX) $637.86 -1.99%
Biogen Inc (BIIB) $135.91 -1.94%
eBay Inc. (EBAY) $99.03 -1.66%
Kraft Heinz Co. (KHC) $27.27 -1.45%
Amgen Inc. (AMGN) $292.62 -1.30%
