Housing starts fell 6.3% in September to an annual rate of 817,000 units, well below the forecast of 872,000. Single family starts were particularly weak, falling 12.0%. Building permits fell 8.3% to 786,000 units, missing the Street’s estimate of 840,000 units.
Preliminary University of Michigan consumer sentiment fell from 70.3 in September to 57.5, far short of the estimate of a decline to 65.0 and the biggest decline on record.
Details from Bloomberg...
The Dow Jones Industrial Average lost 127 points (1.4%) to close at 8,852, the S&P 500 Index fell 6 points (0.6%) to 941, while the Nasdaq Composite declined 6 points (0.4%) to 1,711. Crude oil gained $2.00 to $71.85 per barrel, and gold ended down $17.20 at $787.30 per ounce. For the week, the DJIA rose 4.8%, the S&P 500 Index was up 4.6%, and the Nasdaq Composite advanced 3.8%.
Magnificent Seven Update
Weekly Analysis Of Magnificent Seven ETFs
