Stocks clung to a tight range Thursday after an unexpected drop in pending home sales raised new concern about the economy.
Major indexes were little changed in afternoon trading following the National Association of Realtors' report that its index of home sales agreements fell 7.6 percent in January from December. Contracts fell to the lowest level since April.
The drop in the number of buyers of previously occupied homes dampened some of the enthusiasm about better retail sales numbers. Macy's Inc., Limited Brands Inc. and The Wet Seal Inc. all posted monthly sales that topped analysts' expectations. Wal-Mart Stores Inc. raised its dividend 11 …
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