NEW YORK: Wall Street stocks on Monday turned in a mixed performance to close the second quarter after US pending home sales jumped but automaker General Motors announced another massive auto recall.
At the closing bell, the Dow Jones Industrial Average lost 29.51 points (0.18 percent) at 16,822.33, while the broad-based S&P 500 dipped 1.04 (0.05 percent) to 1,959.92.
But the tech-rich Nasdaq Composite Index rose 10.25 (0.23 percent) to 4,408.18.
The National Association of Realtors reported that the pending home sales index jumped 6.1 percent in May to 103.9, the first time the index has topped 100 since last November.
But GM announced six additional vehicle recalls, totaling 8.4 million vehicles in North America, including 8.2 million in the US, following seven crashes and three fatalities. GM, under scrutiny following an ignition-switch recall scandal, also raised its second-quarter estimate of recall costs to $1.2 billion from $700 million.
GM shares dropped 0.9 percent. Michael James, managing director for equity trading at Wedbush Securities, said Monday's gain in the Nasdaq followed a strong month for the index.
"People want to show the stronger stocks in their portfolio at the end of the quarter," he said.
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