Despite Housing Boom, Dow Jones Industrial Average Ends Lower

5 Sizzling Housing Stocks

by Andrea Kramer

Published on Aug 18, 2015 at 4:23 PM

It was another bittersweet day on the news front, with Wal-Mart Stores, Inc. (NYSE:WMT) and China providing the "bitter," and Home Depot Inc (NYSE:HD) and housing the "sweet." By the time the dust settled, though, the Dow Jones Industrial Average (DJIA) was modestly lower, as traders opted for caution ahead of tomorrow's closely watched Federal Open Market Committee (FOMC) meeting minutes

 

Continue reading for more on today's market, including:

 

 

The Dow Jones Industrial Average (DJIA - 17,511.34) explored a relatively narrow range -- mostly south of breakeven -- settling with a loss of 33.8 points, or 0.2%. Thirteen of the Dow's 30 components ended higher, led by a post-earnings pop of 2.6% for HD. On the flip side, WMT paced the losing majority, surrendering 3.4% after plumbing post-earnings lows.

 

The S&P 500 Index (SPX - 2,096.92) ended 5.5 points, or 0.3%, lower, falling back beneath the 2,100 level.The Nasdaq Composite (COMP - 5,059.35) suffered the worst of its peers, giving back 32.4 points, or 0.6%, after running into a wall at its 20-day trendline.

 

The CBOE Volatility Index (VIX - 13.79) tacked on 0.8 point, or 5.9%, but upside was limited by its 40-day moving average.

 

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5 Items on Our Radar Today:

 

  1. Housing starts hit their fastest pace since October 2007 in July, according to the Commerce Department. Building permits, meanwhile, fell 16.3%. (MarketWatch) 
  2. Popular site BuzzFeed just got a $200 million injection from NBCUniversal, owned by Comcast Corporation (NASDAQ:CMCSA). Separately, BuzzFeed said it's working with Yahoo! Inc. (NASDAQ:YHOO) to create a Japanese version of the site. (CNN Money​)
  3. Why German Chancellor Angela Merkel is facing a rebellion ahead of a key vote.
  4. Ahead of earnings, Target Corporation (NYSE:TGT) announced a settlement with Visa Inc (NYSE:V)
  5. Sunedison Inc (NYSE:SUNE), meanwhile, unveiled a new venture with Goldman Sachs Group Inc (NYSE:GS)

 

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Commodities:

 

Crude oil bounced back from a six-year low, as solid U.S. housing stats stoked expectations for demand. By the close, September-dated crude was up 75 cents, or 1.8%, at $42.62 per barrel.

 

A stronger dollar pushed December gold $1.50, or 0.1%, lower, to end at $1,116.90 per ounce. Elsewhere, a sell-off in Shanghai sparked concerns about copper demand in China, pushing the September contract to a six-year low of $2.287 a pound.


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