Adviser Investments Home Sales Drop | Jim Lowell Economic Indicators

Home Sales Down 10% Year-Over-Year

Adviser Investments’ Chief Investment Officer Jim Lowell has the market analysis for Tuesday, January 22. Major U.S. stock indexes closed down today, with the Dow Jones Industrial Average, S&P 500 and NASDAQ declining 1.2%, 1.4% and 1.9%, respectively. Meanwhile, the National Association of Realtors reported that U.S. existing home sales fell 6% from November to December and 10% year-over-year—slumping to the lowest level seen in three years. On the earnings front, Capital One fell 3% after missing fourth-quarter revenue expectations. Halliburton’s stock also declined 3% despite topping both earnings and revenue forecasts, as investors reacted to renewed fears of economic deceleration in China. Finally, IBM’s stock surged 7% after the company reported better-than-anticipated fourth-quarter earnings and revenue as well as guidance for 2019.

 

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