AllMarket Summary
logoArgusOctober 18, 2019

Market Digest: CMA, ABT, BBT, ERIC, IBM, STI, UNP, URI, AA, CSX

Sector(s)
Financial Services, Basic Materials, Technology, Healthcare, Industrials
Summary

Stocks rose modestly on Thursday amid mixed earnings reports and new housing market and employment data. Investors also weighed the last-minute Brexit deal between the UK and the EU. However, the deal must still be approved by the British Parliament, which is by no means certain. On the housing front, the Commerce Department reported that U.S. housing starts fell 9.4% in September to an annualized 1.256 million, driven by a decline in the multifamily segment. The results were below the Reuters consensus forecast of 1.32 million. Building permits also fell 2.7% to an annualized 1.387 million. Meanwhile, the Labor Department said that first-time unemployment benefit claims rose by 4,000 to a seasonally adjusted 214,000 for the week ended October 12, slightly below the Reuters consensus forecast. The Dow rose 0.09%, the S&P 0.28%, and the Nasdaq 0.40%. Crude oil rose to about $54 per barrel, while gold rose slightly to $1495 per ounce.

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