AllMarket Update
logoArgusAugust 22, 2023

Market Update: PSA, SLF, PANW, WRK

Sector(s)
Financial Services, Technology, Real Estate, Consumer Cyclical
Summary

Stocks were mixed on Tuesday morning amid continued concerns about 'higher for longer' interest rates, as Treasury yields rose to a 15-year high, and recent bank credit downgrades by S&P. Housing market data was weaker than expected. The National Association of Realtors said that U.S. existing home sales fell to a seasonally adjusted annual rate of 4.07 million units in July. The reading was the lowest since January and below the Reuters consensus forecast of 4.15

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