WASHINGTON: US equity markets spent Wednesday looking for a foothold, ending the day little changed amid a mixed batch of economic data and a poor showing for big banks. The three major indices all ended the day off slightly from where they began. The Dow Jones was off 0.1 to 21,008, the S&P 500 was nearly flat, down 0.05 per cent at 2,411 and the Nasdaq was off 0.08 per cent to 6,198.5.
The flat landing comes despite a surprising correction to show growth had picked up in the US Midwestern factory sector in May, rather than an earlier reading that showed it slowing. A forward-looking housing report, meanwhile, missed estimates. Financials were the biggest loser on the S&P 500, falling 0.8 per cent on the day after some bank executives said low market volatility weighed on second-quarter revenue at their trading businesses. The dollar index, which measures the greenback against a basket of its peers, was down 0.25 per cent to 97.03, while oil kept up its losing streaks, with WTI crude, the US standard, falling 2.8 per cent to $48.24 a barrel, and Brent, the international benchmark, off nearly 3 per cent at $50.68.
