Stocks fall again as COVID-19 cases climb; US home prices rose sharply in August |

Stocks wobbly as virus cases increase

NEW YORK — Wall Street’s losses mounted for the second straight day Tuesday as momentum slows on worries about rising virus counts and Washington’s inability to deliver more aid to the economy.

The S&P 500 fell 0.3 percent after spending much of the day swinging between small gains and losses. Most of the stocks in the index fell, particularly banks, oil producers and other companies whose profits tend to track the strength of the economy. Those losses outweighed gains in technology stocks and companies that rely on consumer spending. Traders also welcomed news that AMD has agreed to buy fellow chipmaker Xilinx for $35 billion.

The market’s latest pullback, which follows the S&P 500’s worst day in a month, cuts further into what had been a solid rebound this month after heavy selling in September snapped a five-month winning streak. Just two weeks ago,

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SAP, KB Home fall; Dunkin’ Brands, AstraZeneca rise

NEW YORK — Stocks that moved heavily or traded substantially Monday:

Dunkin’ Brands, up $14.31 to $103.10

The owner of Dunkin’ Donuts and Baskin-Robbins is considering a sale to Inspire Brands.

Cenovus Energy, down 31 cents to $3.40

The energy company is buying Husky Energy in an all-stock deal.

AstraZeneca, up $1.07 to $53.07

The drug developer resumed testing of a potential COVID-19 vaccine after a halt last month.

SAP, down $34.66 to $115.02

The business software maker cut its financial forecast for the rest of the year because of a weak recovery in demand.

HCA Healthcare, down $1.16 to $135.43

The hospital operator’s third-quarter profits fell short of Wall Street forecasts.

Boeing, down $6.53 to $160.83

China will impose sanctions on U.S. military contractors, including the airplane maker’s defense unit, for supplying weapons to rival Taiwan.

KB Home, down $1.94 to $35.68

Homebuilders were weighed down by a disappointing

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September new home sales fall 3.5%, after strong summer season

CHARLOTTE, N.C. — Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units, the Commerce Department said Monday, as the housing market’s summer buying season came to a close.

The Commerce Department said Monday that despite the modest decrease, sales of new homes are up 32.1% from a year earlier, as the housing market remains strong despite the pandemic.

EXISTING-HOME SALES SOAR 9.4% IN SEPTEMBER, MARKING FOURTH CONSECUTIVE MONTH OF GROWTH

The housing market, like most of the economy, came to a near standstill in March and in April, causing the typical spring summer buying season to be delayed until the summer.

LUXURY REAL ESTATE SALES CONTINUE TO SURGE DURING PANDEMIC

Once economies reopened, pent up

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Sept. new home sales fall 3.5%, after strong summer season

CHARLOTTE, N.C. (AP) — Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units, the Commerce Department said Monday, as the housing market’s hot summer buying season cooled.



Model homes and for sale signs line the streets as construction continues at a housing plan in Zelienople, Pa., Wednesday, March 18, 2020. Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units. The Commerce Department said Monday, Oct. 26, 2020, that despite the modest decrease, sales of new homes are up 32.1% from a year earlier, as the housing market remains strong despite the pandemic. (AP Photo/Keith Srakocic)


© Provided by Associated Press
Model homes and for sale signs line the streets as construction continues at a housing plan in Zelienople, Pa., Wednesday, March 18, 2020. Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units. The Commerce Department said Monday, Oct. 26, 2020, that despite the modest decrease, sales of new homes are up 32.1% from a year earlier, as the housing market remains strong despite the pandemic. (AP Photo/Keith Srakocic)

The Commerce Department said Monday that despite the modest decrease, sales of new homes are up 32.1% from a year earlier. However, the pandemic may start to weigh on the market as

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September new-home sales fall 3.5% after strong summer season

CHARLOTTE, N.C. — Sales of new homes fell by 3.5% in September to a seasonally-adjusted annual rate of 959,000 million units, the Commerce Department said Monday, as the housing market’s hot summer buying season cooled.

The Commerce Department said Monday that despite the modest decrease, sales of new homes are up 32.1% from a year earlier. However, the pandemic may start to weigh on the market as the colder winter months arrive and with coronavirus cases spiking across much of the U.S.

“While strong demand and low mortgage rates are supportive of home sales, the resurgence in Covid-19 cases, a recovery that may be shifting into reverse and a weak labor market pose downside risks,” said Nancy Vanden Houten with Oxford Economics, in an email.

The housing market, like most of the economy, came to a near standstill in March and in April, causing the typical spring summer buying season

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U.S. new home sales fall in September; prices continue to rise

By Lucia Mutikani

WASHINGTON, Oct 26 (Reuters)Sales of new U.S. single-family homes unexpectedly fell in September after four straight monthly increases, but the housing market remains supported by record low mortgage rates and demand for more room as the COVID-19 pandemic drags on.

The decrease in sales reported by the Commerce Department on Monday followed data last week showing single-family homebuilding and permits racing to levels last seen in 2007 in September. Confidence among homebuilders hit a record high in October, while sales of previously owned homes rose to their highest level in more than 14 years in September.

The drop in new homes, however, likely signals a slowdown in housing market momentum heading into the fourth quarter. New home sales are counted at the signing of a contract, making them a leading housing market indicator.

New home sales fell 3.5% to a seasonally adjusted annual rate

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Mizrahi Tefahot VP: Home prices won’t fall

“In my view, home prices won’t fall; they’ll be stable. Consistently, for years, there has been a gap between the number of households forming and building starts. We have a cumulative shortfall of 90,000 housing units,” said Israel Engel, vice president and head of retail banking at Mizrahi Tefahot Bank (TASE:MZTF) at he “Globes” Israel Real estate Conference.

“Besides that, we are seeing that construction times have lengthened, whether because of the lockdown or because foreign workers are not being brought in,” Engel continued. “Construction time has reached 31 months, which clearly affects the supply of housing. We are seeing growth in investment in real estate. This is clearly a factor causing housing prices not to fall.”

Engel began by saying that he would try to answer some questions that concern people involved in real estate, such as how it is that mortgage taking has risen despite the

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Toronto rental prices fall, as condo listings surged nearly 114% this summer – Toronto

TORONTO — The Toronto Regional Real Estate Board says rental listings more than doubled in the third quarter, as investors pulled their condos from platforms such as Airbnb and put them onto the traditional rental market instead.

TRREB says there was a nearly 114-per cent surge in the number of condos listed for rent in Toronto this summer, driving down rents for units of all sizes.

Read more:
Toronto home sales surged 42% to set new September record

Board President Lisa Patel says the growing pool of condos on the market led to more choice and negotiating power for renters this summer.

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European stocks fall as healthcare, construction sectors drag

By Sruthi Shankar



a desktop computer sitting on top of a desk: The German share price index DAX graph at the stock exchange in Frankfurt


© Reuters/STAFF
The German share price index DAX graph at the stock exchange in Frankfurt

(Reuters) – European shares fell for a third straight session on Wednesday, as losses in healthcare and construction stocks countered a lift from encouraging earnings from consumer giant Nestle and telecoms equipment maker Ericsson.

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The pan-European STOXX 600 <.stoxx> fell 1.0%, in sharp contrast to Asian markets and Wall Street futures that steadied on hopes of a fresh U.S. stimulus package.

Most European sectors slipped, with healthcare stocks <.sxdp> proving the biggest drag, while banking stocks <.sx7p> were supported by rising U.S. and European government bond yields.

Nestle lifted its 2020 sales forecast following a quarterly beat, but shares inched lower after early gains. Sweden’s Ericsson jumped 5.5% as higher margins and China’s 5G rollout helped the company beat quarterly core earnings estimates.

“Earnings have been generally well above expectations, and guidance has

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Fall in supply pushes home prices up 4.8% in Q3

House prices rose by 4.8% between June and September, the latest Daft.ie House Price Report shows today, as the number of homes on sale in Ireland hit a 14-year low.

Daft.ie said the third quarter increase in prices offset falls earlier in the year. The average sale price nationwide stood at €263,750, up 2.7% on the same time last year and 60% higher than its lowest point in early 2013.

But Daft.ie also noted that the number of properties available to buy on the market nationwide was just under 17,700 on October 1, down almost one third on the same time last year and the lowest figure in over 14 years. 

It said the housing market has now seen 14 successive months of falling stock, with relatively similar falls in all major regions of the country. 

Home prices rose in all 54 markets contained in the Daft.ie report between June

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