Market Roundup: Major Indices Sink for Second Consecutive Week

Published: Oct. 1, 2019, 9:22 p.m.

Markets closed mixed on Monday, amid a variety of economic news. The Dow Jones Industrial Average posted slight gains, while the S&P 500 Index finished flat and NASDAQ Composite ended in the red zone. The Consumer Staples sector was among the best performers on the day, while the Healthcare sector was among the weakest. The following day, stocks traded lower amid impeachment talks and renewed fears over U.S./China trade tensions. Despite President Trump criticizing China’s leaders of currency manipulation, theft of intellectual property, and product dumping, the two nations are still set to renew talks in October. On another note, a measure of consumer sentiment is down for September. The Conference Board's Consumer Confidence Index slipped to 125.1 from 134.2 in August and was well below forecasts. The major Indices closed in the green zone on Wednesday, as stocks in the Technology sector led the ascent. On another note, new home sales jumped in August. Commerce Department data showed single-family home sales rose 7.1% to a 713,000 annualized pace, while the median sales price increased 2.2% from a year earlier to $328,400. Thursday, the stock market started in the red and while some indices flirted with positive mid-day numbers, all three closed down for the day. REITs are among the best performers on the day, while energy issues were among the weakest. Despite opening higher on optimism that trade talks would resume, a report indicating investments in China could be restricted pushed equity prices down for the day.