Stocks started the day slightly higher but were unable to gain much traction in early trading as small caps were heading lower. Treasury yields were flat in overnight trading and heading lower in early trading.
Initial claims rose +419k last week and total claims, including all forms of Pandemic Unemployment Assistance, fell -1.262 million to 12.573 million.
The Chicago Fed National Activity Index showed the national economy flatlined in June as the index came in at 0.09.
Existing home sales rose +1.4% to 5.86 million units sold. Median home prices rose to $363k, an all-time high.
The Kansas City Fed Manufacturing Index rose from 27 to 30 in July, indicating further expansion in the Kansas City manufacturing sector.
Stocks closed higher on the day except for small caps which closed lower on the day. Treasury yields closed higher but came just short of their intra-day lows as 30-year Treasury yields closed just under 2.9%.