Summary

Stocks were largely flat on Wednesday morning. The Commerce Department reported that May new home sales fell 5.9% to a seasonally adjusted annual rate of 769,000 with a median price of $374,400. IHS Markit said that U.S. manufacturing PMI rose to a reading of 62.6. Bitcoin retraced yesterday’s losses. The S&P was nearly flat, the Nasdaq was up 0.1% and the Dow was down 0.1%. Crude oil traded near $73 per barrel, while gold rose $10 to $1787 per ounce.

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