Wednesday’s Midday Movers: 3 Stories Driving Markets
The major U.S. stocks were fluctuating Wednesday following investor disappointment in Apple (NASDAQ:AAPL). As of noon:
|DIJA: +0.53% to 15,271.23||S&P 500: +0.05% to 1,684.76||NASDAQ: -0.3% to 3,717.92|
|Gold: -1.08% to 72.64||Oil: +0.59% to 25.49||U.S. 10-Year: -0.07% to 29.57|
Here are three stories helping shape the market Wednesday afternoon.
1. Housing Market Resumes This Damaging Downtrend: After managing to post a modest increase last week, mortgage applications in the United States resumed their downtrend and reached the worst level in years.
According to the Mortgage Bankers Association’s latest report, for the week ended September 6, loan applications dropped 13.5 percent on a seasonally adjusted basis from one week earlier — the 15th decline in only 18 weeks. The figure includes both refinancing and home purchase demand, and covers more than 75 percent of all domestic retail residential mortgage applications… (Read more.)