US markets open lower after housing starts data

Wednesday, 19. October 2022 15:33

US stocks traded lower on Wednesday at the opening of the trading session following the publication of the housing starts report and amid the release of earnings reports from major US companies.

Earlier, the US Census Bureau reported that privately‐owned housing starts in the country numbered 1,439,000 in September, a drop of 8.1% compared to the previous month. The data came after the Mortgage Bankers Association (MBA) announced mortgage applications hit the lowest level since 1997, with the 30-year fixed rate at 6.94% in the week ending October 14, 2022.

The Dow Jones lost 0.24% at 9:30 am ET, with Home Depot down by 1.38%. At 9:31 am ET, the Nasdaq 100 fell by 0.47%, while JD.com decreased by 6.11%, and the S&P 500 declined 0.42%, with Generac plummeting by 17.01%. The euro was down by 0.78% against the dollar at 9:28 am ET, selling for $0.97806.

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Author:
Baha Breaking News (BBN) / JG