Dow dips as Home Depot falls, Tesla up on S&P inclusion

Stocks opened mixed on Tuesday morning as investors weighed results from Home Depot and Walmart.

The Dow Jones Industrial Average dropped over 300 points or 1%, weighed down by the two Dow retail members. The S&P 500 also fell by the same amount.

Ticker Security Last Change Change %
I:DJI DOW JONES AVERAGES 29553.92 -396.52 -1.32%
HD THE HOME DEPOT INC. 272.53 -7.40 -2.64%
WMT WALMART INC. 152.09 -0.60 -0.39%
SP500 S&P 500 3592.85 -34.06 -0.94%

Home Depot shares were weaker despite a solid quarter after the home improvement chain noted expenses would rise by $1 billion as it works to bring on more employees. Walmart reported strong results, beating expectations as e-commerce sales jumped 79%.

WALMART SEES CORONAVIRUS BOOST

Tesla is a standout, rallying on word it will be added to the S&P 500 in December,

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NYC Rent Dips Slightly As Tenants Move To Larger Homes

NEW YORK CITY — The coronavirus pandemic has affected nearly every aspect of life, including where and how people live.

A new study from Apartments.com shows New York City tenants’ desires have changed over the course of the pandemic, and they are now on the hunt for more spacious and affordable apartments that better accommodate working from home.

One thing that could be to blame, according to Apartments.com data, is that tenants are moving out of smaller, costlier units and instead searching for larger living spaces that are better suited to multi-family living scenarios and work-from-home jobs.

Online search data backs up the suspicion — at the onset of the pandemic, searches for apartments in Manhattan fell while those in other boroughs rose.

An Apartments.com analysis suggests Manhattan residents in March were looking to leave the city’s densest areas while still staying nearby.

As the pandemic continued in June and

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Number of New-Home Sales Dips Slightly in the U.S.

After recording four consecutive months of increases, the number of newly built single-family homes sold in the U.S. dipped in September, according to a report released Monday by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.

There were 959,000 sales of new single-family houses in September, 3.5% below August’s number of 994,000 and the lowest total since June, according to the data, which is seasonally adjusted to account for predictable and regular annual fluctuations in the housing market.


Despite the slight dip, September’s newly constructed family home transactions remained a notable 32.1% above the level recorded in 2019, when there were approximately 726,000 new single-family homes changing hands. 

The boom compared to last year reflects the surge of demand for homes that has emerged following coronavirus lockdowns. Buyers, having spent increased time indoors because of the pandemic, have reassessed their housing needs. More square footage,

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