Stock Market Update
10-Sep-26 10:30 ET
August existing home sales
Dow -213.58
at 52167.08,
Nasdaq -139.55
at 26134.84,
S&P -34.20
at 7602.16
[BRIEFING.COM] The S&P 500 (-0.5%), Nasdaq Composite (-0.5%), and DJIA (-0.4%) are slightly improved from their worst levels as several more defensive-oriented sectors now trade higher.
Existing home sales decreased 2.0% month-over-month in August to a seasonally adjusted annual rate of 3.98 million (Briefing.com consensus 4.03 million) from 4.06 million in July. Sales were down 1.2% on a year-over-year basis.
The key takeaway from the report is that home sales remain pressured by high mortgage rates and limited inventory, especially at the lower end. Sales of homes priced at $500,000 and below have faced the most pressure while sales of homes priced over $1 million have were up 3.9% year-over-year in August.
