existing home sales

Gainers

• United States Oil (NYSE: USO) up 3.08 percent to $44.28. Crude is higher today, pushed higher by the weak dollar and a decline in inventories last week.
  
  Crude stores fell 2.3 million barrels to 357 million barrels last week, versus the consensus calling for an increase of 800K.
  
  June 11 WTI contracts up $2.70 to $110.98 per barrel on the Comex.
• SPDR S&P 500 (NYSE: SPY) up 1.38 percent to $133.12.
  
  U.S.

The report, along with a bleak report on existing home sales this week, dimmed hopes for a quick housing market recovery.

HIGHER;

• SPDR S&P Homebuilders (NYSE XHB) up 2% to $15.39. Homebuilders are getting a boost as numbers for existing home sales exceeded Street expectations.
  
  Numbers showed 6.54 million homes sold, versus the 6.25 million home sales estimates.
• iShares Dow Jones US Home Construction (NYSE: ITB) shares up 2.77% to $12.07.
  
  Again, this ETF is also rising on good existing home sales numbers.
• SPDRs (NYSE: SPY) up 0.19% to $111.54.
  
  The S&P is rising on good existing home sales numbers, even though revised GDP came in below estimates.

Buyers stormed back to the market in July, taking advantage of falling prices, lower interest rates and a tax credit for first-time homeowners, an industry group reported.

The Trading Radar highlights key earnings and economic announcements for tomorrow's trading session: Before Market Opens: Earnings: AnnTaylor (NYSE: ANN) - consensus EPS $0.02 J.M.

Smucker (NYSE: SJM) - consensus EPS $0.80 Intraday or Not Specified: Economics: 10am ET

• Existing Home Sales for July - Street expects 5M

Earnings: Met-Pro (NYSE: MPR) - consensus EPS $0.13 Subscribe to EasyStockAlerts and get real-time e-mail alerts when news hits your stocks!

The U.S. housing market is finally on the mend after its most far-reaching collapse in 70 years. That could help rebuild consumer confidence and revive the economy.

A real estate group's report says sales of previously occupied homes rose 3.6 percent from May to June, the third consecutive monthly increase and a sign that a housing recovery is under way in much of the country.

A real estate trade group's report is expected to show that sales of previously occupied homes inched up in June, a third straight monthly increase.

A rise in existing home sales couldn't stoke the stock market ahead of the Federal Reserve's decision on interest rates.

Existing home sales rose 2.4 percent last month, a real estate group said. Prices, meanwhile, dropped by 16.8 percent from a year ago.