Last updated: 4:09PM EST
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Stock indices finished today’s trading session in the red, as the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) fell 0.13%, 0.19%, and 0.16%, respectively.
The Health Care sector (XLV) was the session’s laggard, as it lost 0.62%. Conversely, the Real Estate sector (XLRE) was the session’s leader, with a gain of 0.39%.
Furthermore, the U.S. 10-Year Treasury yield decreased to 4.39%, while the Two-Year Treasury yield fell to 4.89%.
Meanwhile, the New Home Sales index, a key measure of change in the percentage of new home sales, fell 5.6% month-over-month to 679,000, lower than consensus expectations of 721,000 and the 719,000 recorded in September.
On a year-on-year basis, the recent figure is a 17.7% increase from last year’s October print of 577,000.
The median sales price of new houses also declined last month to $409,300, compared to the $418,800 recorded in August. Furthermore, the average sales price dropped from $503,900 to $487,000.
Last updated: 9:30AM EST
Stocks opened lower on Monday morning, with the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) down by 0.15%, 0.21%, and 0.07%, respectively, at 9:30 a.m. EST, November 27.
First published: 4:11AM EST
U.S. Futures are trending lower on Monday morning as traders return from Thanksgiving’s holiday spirit. Futures on the Nasdaq 100 (NDX), S&P 500 (SPX), and the Dow Jones Industrial Average (DJIA) are down by 0.17%, 0.18%, and 0.15%, respectively, at 4:10 a.m. EST, November 27.
Remarkably, the U.S. 10-year treasury yield is trending near its lows, sitting at 4.47% at the time of writing. And the WTI crude oil futures are down, hovering near $74.79 per barrel as of the last check.
The three major averages finished the last trading week on positive footing. Interestingly, Black Friday e-commerce spending jumped 7.5% year-over-year to hit a record $9.8 billion in the U.S., according to an Adobe Analytics report. Amazon (AMZN), with its value pricing and fast delivery, is poised to dominate holiday sales and claim a more significant portion of consumers’ spending. In other news, ChatGPT maker OpenAI’s share sale hangs in the balance as investors and the public look forward to the much-awaited share sale offering. The whole saga of the ouster and reinstatement of founder and CEO Sam Altman might have hurt the company’s valuation.
Further, the earnings season is taking a backseat, with very few companies remaining to report. A majority of cybersecurity companies are reporting this week, including Zscaler (ZS), Crowdstrike (CRWD), Salesforce (CRM), Snowflake ( SNOW), and Okta (OKTA), among others. At the same time, important economic reports expected this week include October’s Core Personal Consumption Expenditures (Core PCE), Weekly Initial Jobless Claims, New Home Sales, and October’s ISM Manufacturing PMI data, among others.
Elsewhere, European markets are trading mixed on Monday as markets assess the macro factors across the region.
Asia-Pacific Markets Ended lower on Monday
Asia-Pacific indices ended in the red on Monday. Chinese property stocks plunged in trading today dragging down shares of overall Chinese companies. Also, Japan’s service PPI figure grew to 2.3% in October, higher than September’s reading.
Hong Kong’s Hang Seng index and China’s Shanghai Composite and Shenzhen Component indexes ended down by 0.20%, 0.30%, and 0.55%, respectively.
Similarly, Japan’s Nikkei and Topix indices finished lower by 0.53% and 0.38%, respectively.
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