AllMarket Update
logoArgusNovember 27, 2023

Market Update: LOW, SLF, WTRG

Sector(s)
Utilities, Financial Services, Consumer Cyclical
Summary

Stocks were little changed on Monday morning as investors weighed new housing market data and awaited a key inflation report - the October PCE price index - later this week. The Commerce Department said that U.S. new home sales fell to an annualized 679,000 in October, down 5.6% from September and well below the Bloomberg consensus forecast of 725,000. However, sales were still up 17.7% from the prior year. The Dow fell 0.1%, the S&P fell 0.1%, and the Nasdaq rose 0.1%. Crude oil rose slightly to $76 per barrel while gold traded near $2011 per ounce.

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