The week opens with a bad signal from the US housing market. Existing home sales in February fell 7,1% from the previous month to 5,08 million units, according to the brokers' association.
The figure is lower than market expectations: analysts had forecast sales of at least 5,33 thousand units, therefore a decrease of no more than 2,6% compared to January. On an annual basis, however, sales increased by 2,2% last month.
Also in the wake of this data, Wall Street opened without momentum: after the first few minutes of trading, the Dow Jones dropped by 0,07%, the S&P 500 by 0,09% and the Nasdaq by 0,01%.
