Stock Market Update
24-Sep-26 10:30 ET
August New Home Sales
Dow -191.39
at 51320.20,
Nasdaq -130.43
at 26826.65,
S&P -17.33
at 7688.70
[BRIEFING.COM] Stocks remain mostly lower this morning amid a more hostile macro backdrop.
There are a handful of notable stock-specific moves in the mix, with MGM Resorts (MGM 34.30, -3.54, -9.37%) the worst-performing S&P 500 component after confirming People Incorporated (PPLI 37.14, +1.18, +3.27%) withdrew its acquisition proposal.
New home sales increased 6.4% month-over-month in August to 684,000 (Briefing.com consensus: 610,000) from an upwardly revised 643,000 (from 607,000) in July. On a year-over-year basis, new home sales were down 2.0%.
The key takeaway from the report is that the latest monthly sales rebound exceeded expectations and coincided with lower prices, but sales still trailed their year-ago level.
