A Mixed Week for the Markets
The government released information showing that new home sales rose more than 18% in May. The Conference Board’s index of consumer confidence increased to 85.2 in May from 82.2 in April, suggesting that consumers remain optimistic. Unfortunately, this optimism wasn’t enough to lift the market. The Dow Jones industrial average ended the day down 0.7%—the biggest one-day percentage decrease for the index in over a month.