The stock market edged lower Wednesday, with investors anticipating data on pending home sales and waiting to see if oil prices will climb further into uncharted territory.
At 10 a.m. EDT (1400 GMT), the National Association of Realtors is expected to report that pending sales of existing homes declined in March, according to economists surveyed by Thomson Financial/IFR.
Wall Street got a dose of good news when the Labor Department said earlier Wednesday that labor costs rose at an annual rate of 2.2 percent. That's down from a 2.8 percent rise the previous quarter, suggesting that inflation pressures may be letting up.
But inflation remains a …
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