Reply #81: numbers and blather [View All]

[ozymandius]

1:23
Dow 10,509.55 -60.34 (-0.57%)
Nasdaq 2,133.68 -7.73 (-0.36%)
S&P 500 1,215.85 -5.88 (-0.48%)
10-Yr Bond 41.80 -0.39 (-0.92%)
NYSE Volume 954,055,000
Nasdaq Volume 794,099,000

1:00PM: More of the same for stocks as the major averages continue to chalk up losses... With earnings season almost completely over, as more than 95% of the S&P 500 has reported, investors continue to focus much of the attention on the day's only economic report... Even though tomorrow's July new home sales (consensus 1.33 mln) report carries more weight, the fact that a 7.16 mln annual rate in existing home sales missed economists' expectations of 7.25 mln seems of have stirred up concerns of whether the disappointment is a precursor to the housing "bubble" popping...

To that end, homebuilders remain one of the worst-performing S&P groups (-2.1%) while the PHLX Housing Sector Index (HGX 521.43 -8.55) remains poised to close lower for an eighth straight day and nearly 13% off its all-time high...NYSE Adv/Dec 1126/2021, Nasdaq Adv/Dec 1066/1833