Pending Homes Sales fell for the second-straight month for the first time in the past year, -1.8% for July following an unrevised -1.9% for June. These stocks helped the S&P reach its 53rd record closing high in 2021, and the Nasdaq reaching its 32nd record closing high. Apple AAPL earned 3% in the regular session while both Prologis PLDand Equinix EQIXgained 1.8% each. Tech stocks gained +1.09% on the day, and Real Estate, which took it on the chin for much of the past week of trading, bounced back +1.15%. The Dow was -0.16% on the day due to that afternoon drift, dragged lower by financials AmEx AXP, JPMorgan JPM and Goldman Sachs GS. The S&P gained +0.43% and the Nasdaq a robust +0.90%, for their seventh day higher in the past eight sessions. Markets drifted downward in the last hour of trading this Monday, but fortunately for the S&P 500 and the Nasdaq, this wasn’t enough to keep both indexes from notching fresh new closing highs by the final bell.
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