Stock Market Update
27-Oct-26 10:25 ET
New home sales and consumer confidence
Dow -92.78
at 52269.01,
Nasdaq +96.07
at 26285.89,
S&P +6.98
at 7683.82
[BRIEFING.COM] The S&P 500 (+0.1%), Nasdaq Composite (+0.3%), and DJIA (-0.2%) remain mixed this morning as investors digest a busy round of quarterly earnings reports and economic data releases.
New home sales decreased 0.6% month-over-month in September to 676,000 (Briefing.com consensus: 655,000) from a downwardly revised 680,000 (from 684,000) in August. On a year-over-year basis, new home sales were down 5.3%.
The key takeaway from the report is that new home sales stalled in September despite a lower median price, as rising mortgage rates posed an offsetting affordability constraint for prospective homeowners.
The Conference Board's Consumer Confidence Index increased to 91.7 in October (Briefing.com consensus: 80.5) from an upwardly revised 84.2 (from 81.9) in September. In the same period a year ago, the index stood at 95.5.
The key takeaway from the report is that the improvement in confidence was rooted in both the present situation and expectations indexes, which coincided with an easing in gas prices.
