HomeFinance NewsLive updates on today's stock market performance in 13 words or less

Live updates on today’s stock market performance in 13 words or less

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In the overnight trading session, U.S. stock futures remained relatively unchanged. Dow Jones Industrial Average (DJIA) futures rose by just 0.08%, S&P 500 futures increased by 0.07%, and Nasdaq 100 futures climbed 0.03%. However, during the regular trading session, the DJIA experienced its worst day since March, declining by 1.14%. The S&P 500 also fell by 1.47%, and the Nasdaq Composite slid by 1.57%. These losses were driven by disappointing data on new home sales and consumer confidence. Homes under contract fell short of economists’ expectations, and the Conference Board’s consumer confidence index also declined.

The lower-than-expected data on new home sales and consumer confidence have raised concerns among investors. Worries about inflation and rising borrowing costs continue to weigh on consumer sentiment and housing market activities. However, some positive factors such as strong accumulated consumer savings balances, a robust labor market, and steady wage growth are providing support as the year enters the fourth quarter. The market has been living up to its historically weak September, with significant declines in major indices. Chief investment officer Robert Schein expects the volatility to continue into October until the upcoming earnings season, which could potentially reverse the market correction if results are better than anticipated.

In terms of upcoming economic reports, August’s durable goods orders are scheduled for release on Wednesday. Economists predict a decline of 0.5%. Additionally, Paychex and Micron Technology are set to issue their earnings reports, which will be closely watched by investors. Overall, market participants are eagerly awaiting further data and earnings results to gain insight into the current state of the economy and potential future market trends.

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