"The healing in housing continues"
- Brian Jones, a senior U.S. economist at Societe Generale
Sales of previously owned homes probably increased in July, adding to signs the housing market is improving, claim economists before today's report set to be released at 4:00pm CET.
"The healing in housing continues," said Brian Jones, a senior U.S. economist at Societe Generale in New York. "We're clearly in an upturn for the sector."
U.S. stocks retreated on Tuesday dragged down by a slump in technology shares.
The Standard & Poor's 500 lost 0.35% to 1,413.17. The Dow Jones Industrial Average fell to 13,203.58 and the Nasdaq Composite edged lower 0.29% to 3,067.26.
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