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Sector action: Real estate pops while Energy lags

DeFi Daily News by DeFi Daily News
August 27, 2024
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Sector action: Real estate pops while Energy lags
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#stocks #inflation #YahooFinance #recession #bitcoin #Biden #Stockmarket #coronavirus #memestocks #Fed #YahooFinance #investing #stockmarket #crypto

To get the latest market news check out finance.yahoo.com

Real Estate (XLRE) led Tuesday’s sector action, with Utilities (XLU) and Consumer Staples (XLP) also outperforming. All three of those indexes moved more than 5% higher in mid-afternoon trading.

The positive moves for the XLRE come after price increases moderated somewhat in June, according to the latest reading of the S&P CoreLogic Case-Shiller National Home Price Index.

The index increased 0.2% month over month on a seasonally adjusted basis, less than the 0.3% rise seen in May. However, home prices remain at a record, with the index climbing for a fifth straight month to hit an all-time high in June.

Energy, meanwhile, was the biggest laggard of the day after crude oil dropped about 2%, reversing previous gains. Oil had ripped 3% higher on Monday as production cuts in Libya, coupled with more tensions in the Middle East, added to supply concerns.

For more on this article, please visit:
https://finance.yahoo.com/news/stock-market-today-dow-ekes-out-another-record-as-investors-await-nvidia-earnings-200247646.html

source

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