ReportWire

Tag: COMP

  • Dow, S&P 500 and Nasdaq snap 3-session skid as stocks eke out gains

    Dow, S&P 500 and Nasdaq snap 3-session skid as stocks eke out gains

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    U.S. stocks finished modestly higher Wednesday, with all three major stock benchmarks ending a 3-session skid, as investors picked up shares after a sharp market selloff earlier this week. The Dow Jones Industrial Average
    DJIA,
    -2.01%
    rose about 61 points, or 0.2%, ending near 32,970, while the S&P 500 index
    SPX,
    -2.51%
    closed up 0.3% and the Nasdaq Composite Index
    COMP,
    -3.21%
    advanced 0.4%. Stocks booked modest gains as investors remained focused on the Federal Reserve’s inflation fight and Fed Chairman Jerome Powell’s speech at the Jackson Hole, Wyo. symposium on Friday. Recession worries also were in focus, with pending homes sales falling in July, a sign that rate hikes have been helping cool demand, even through shelter costs, specifically rents, have contributed to high U.S. inflation. Benchmark lending climbed Wednesday, with the 10-year Treasury rate
    TMUBMUSD10Y,
    3.802%
    climbing to 3.105% Wednesday, the highest since June 28, according to Dow Jones Market Data based on 3 p.m. Eastern levels. The S&P 500’s energy sector helped lead the way higher, up 1.2%, while financial rose 0.5%, according to FactSet

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  • New home sales decline in March

    New home sales decline in March

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    U.S. new-home sales decreased 8.6% to an annual rate of 763,000 in March, the government said Tuesday. That figure represents the quantity of homes that would be sold over a yearlong period of time if the same number of properties were bought each month based on the rate of sales in March. Compared to a year ago, sales were down 12.6%. Economists polled by MarketWatch expected new-home sales in March to drop to an annual rate of 770,000.

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  • Home prices rose at breakneck pace in February, Case-Shiller report shows

    Home prices rose at breakneck pace in February, Case-Shiller report shows

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    The S&P CoreLogic Case-Shiller 20-city price index posted a 20.2% year-over-year gain in February, up markedly from 18.9% the previous month. On a monthly basis, the index increased 2.4% between January and February.
    Meanwhile, the Case-Shiller national home price index increased 19.8% between February 2021 and February, up from the previous month. This represented the third-largest pace of home-price appreciation in the Case-Shiller report’s history.

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  • Existing-home sales fall for second consecutive month amid rising mortgage rates

    Existing-home sales fall for second consecutive month amid rising mortgage rates

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    Existing-home sales decreased 2.7% between February and March, dropping to a seasonally-adjusted, annual rate of 5.77 million, the National Association of Realtors said Wednesday. Compared to a year ago, sales were down 4.5%. Economists polled by MarketWatch had projected existing-home sales to come in at 5.75 million.

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  • Housing starts rise despite surging mortgage rates

    Housing starts rise despite surging mortgage rates

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    U.S. home builders started construction on homes at a seasonally-adjusted annual rate of roughly 1.79 million in March, representing a 0.3% increase from the upwardly-revised figures for the previous month, the U.S. Census Bureau reported Tuesday. Compared with March 2021, housing starts were up nearly 4%. Meanwhile, permitting for new homes occurred at a seasonally-adjusted annual rate of roughly 1.87 million, up 0.4% from February and 6.7% from a year ago. Economists polled by MarketWatch had expected housing starts to occur at a median pace of 1.73 million and building permits to come in at a median pace of 1.82 million.

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