Homebuilder Sentiment Falls to Lowest Since 2012
NAHB’s Housing Market Index falls to 29 in October, with all three components also hitting multi-year lows even as 43% of builders cut prices.
The Week Ahead: The Rotation Continues
AI worries are pressuring Tech and sending yields lower as we embark on a heavy earnings week including several names in the cross-hairs.
Tech Selloff Deepens as Market Rotation Continues
Another selloff in AI names broadened to encompass most of Tech, sending the Nasdaq-100 to its worst week since April 2025. Five sectors though would finish the week up 2% or more, as 30-year Treasury yields fell the most since April 2025.
Industrial Output Jumps the Most Since April to Highest Since 2018
Industrial production beats estimates, rising from a year earlier the most since September 2022, as manufacturing rebounds from August’s dip and utility output jumps to a record high led by electricity.
Import Prices Jump as AI-Related Costs Rise the Most Since 1987
Fuel prices rebounded and nonfuel import prices hit their highest annual rate since April 2022, with semiconductor prices posting an eighth straight record year-over-year gain.
Despite Hot PPI, Yields Fall, Sparking Broad Rally Held Back By Tech
Stocks recovered from early losses as Tech bounced and the largest drop in 10- and 30-year yields in over a year saw five sectors gain over 1%.
Producer Prices Jump the Most Since 2022 on Record Energy Surge
After Wednesday’s hot CPI print, PPI comes in even hotter, more than double estimates in a broad advance led by a record jump in energy prices.
Gasoline Fuels the Retail Sales Beat in September
Retail sales rose 0.8% versus a 0.3% estimate, but gas stations were over 70% of that gain while the GDP-linked control group missed and Census’s annual revision cut sales levels by about 4.5%.
Initial Jobless Claims Extend Longest Run Since 1969
Initial claims came in at 199,000, only the 11th week below 200,000 since 1969, while the four-week average of continuing claims fell to its lowest level since April 2023.
Hotter Inflation and AI Weakness End the S&P 500’s Run Without a 1% Drop
A hotter-than-expected September CPI report and a deepening selloff in AI names sent the S&P 500 down more than 1% for the first time in 54 sessions, with the Nasdaq and small caps falling nearly 2%.