Wall Street was watching a couple of key data points late Thursday morning.

The S&P Global Flash US Manufacturing PMI for August fell to 48.0. That's softer than the 49.0 economists were expecting and down from the July read of 49.6.

Meanwhile, existing home sales for the month of July rose 1.3%, according to the National Association of Realtors. In the release, NAR Chief Economist Lawrence Yun says that though sales remain "sluggish," "consumers are definitely seeing more choices, and affordability is improving due to lower interest rates."

Catalysts anchors Seana Smith and Madison Mills recap the reports in the video above.

For more expert insight and the latest market action, click here to watch this full episode of Catalysts.

This post was written by Stephanie Mikulich.