After six consecutive winning days for the Dow Jones Industrial Average (DJINDICES:^DJI), it appears the index may break that streak today because of the disappointing housing numbers released this morning. The number of pending home sales fell by 4.3% from November to December, whereas analysts were expecting a gain of 1%. On the other hand data on durable-goods orders looks rather encouraging. From November to December most economists had forecast a 2% advance in the orders for goods that will last three years or longer, but that number actually came in at 4.6%.
The mixed economic data seems to have investors confused, as the three major indexes can't agree which way to go. As of 12:40 p.m. EST the Dow is down 0.08%. The S&P 500 is down 0.13%, while the NASDAQ is up 0.21%.
Who's down on the Dow?
Shares of do-it-yourself home improvement store Home Depot (NYSE:HD) are down 0.6% today. The negative housing numbers are likely the cause for the drop. Home Depot is strongly tied to the housing market and especially existing-home sales. When people move into previously occupied homes, they often replace fixtures, wall colors, and other small items, all of which can be purchased at Home Depot.
Although there was a rise in durable goods from November to December, a number of Dow components that would have likely benefited from these higher sales numbers are slipping today. Shares of Boeing are down nearly 1%, while Alcoa has lost 1.3% and DuPont is down 0.7%. The reason may be that although durable-goods orders increased more than expected in the most recent reading, investors haven't seen these positive readings translate to higher revenues or profits for any of the three companies yet.
Fool contributor Matt Thalman has no position in any stocks mentioned. Follow Matt on Twitter @mthalman5513. The Motley Fool recommends Home Depot. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.