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Stock Market Dips as Home Price Growth Shows Signs of Cooling

MarketDash Editorial Team
4 hours ago
U.S. markets opened modestly lower Tuesday with major indexes sliding as new data revealed home price growth decelerated in October. Energy shares bucked the trend while consumer discretionary stocks led decliners, and commodities showed surprising strength with silver surging over 7%.

Tuesday morning brought a subdued tone to U.S. equity markets, with all three major indexes trading in the red after the opening bell. The Dow Jones Industrial Average fell 0.15% to 48,388.22, while the NASDAQ slipped 0.13% to 23,443.02. The S&P 500 dropped 0.09% to 6,899.74.

Sector Action: Energy Shines, Discretionary Lags

Energy shares provided a rare bright spot, climbing 0.7% during Tuesday's session. On the flip side, consumer discretionary stocks bore the brunt of selling pressure, declining 0.4% and leading sectoral losses.

Housing Data Shows Cooling Price Growth

The headline economic news came from the housing market, where the Case-Shiller Home Price Index revealed moderating price appreciation. The index increased 1.3% year-over-year in October, a slight deceleration from the 1.4% surge recorded in the previous month. The figure exceeded market estimates of a 1.1% gain, but the downward trajectory suggests the housing market may be entering a cooler phase.

Adding to the housing picture, the FHFA house price index rose 0.4% in October, a notable improvement from September's 0.1% decline and surpassing market expectations of a 0.1% increase.

Notable Movers

Several stocks experienced dramatic swings that made the broader market moves look tame by comparison.

On the upside, Profusa, Inc. (PFSA) shares skyrocketed 112% to $0.1445 following news that the company restructured its senior secured convertible note. Antelope Enterprise Holdings Limited (AEHL) surged 99% to $2.25, while Cemtrex, Inc. (CETX) gained 52% to $3.2118 as investors celebrated the firm's return to profitability and looked past a going-concern warning that had weighed on shares earlier in the day.

The downside was equally dramatic. SMX (Security Matters) Public Limited Company (SMX) shares plummeted 30% to $59.62 after already declining 27% on Monday. New Era Energy & Digital, Inc. (NUAI) fell 23% to $2.07 following the company's firm response to a New Mexico lawsuit. CCSC Technology International Holdings Limited (CCTG) dropped 21% to $0.1381.

Commodities Stage Broad Rally

Commodity markets showed surprising strength across the board. Oil traded up 0.5% to $58.36, while gold climbed 1.5% to $4,409.30.

The real standout was silver, which surged 7.1% to $75.455 on Tuesday. Copper also posted solid gains, rising 2.7% to $5.7165.

Global Market Snapshot

European markets painted a more optimistic picture than their American counterparts. The eurozone's STOXX 600 gained 0.5%, while Spain's IBEX 35 Index rose 0.7%. London's FTSE 100 advanced 0.4%, Germany's DAX 40 climbed 0.6%, and France's CAC 40 rose 0.5% during the session.

Asian markets closed mostly lower on Tuesday. Japan's Nikkei 225 fell 0.37%, China's Shanghai Composite slipped 0.004%, and India's BSE Sensex declined 0.02%. Hong Kong's Hang Seng Index bucked the regional trend, surging 0.86%.

Back to Stock Market News

Stock Market Dips as Home Price Growth Shows Signs of Cooling

MarketDash Editorial Team
4 hours ago
U.S. markets opened modestly lower Tuesday with major indexes sliding as new data revealed home price growth decelerated in October. Energy shares bucked the trend while consumer discretionary stocks led decliners, and commodities showed surprising strength with silver surging over 7%.

Tuesday morning brought a subdued tone to U.S. equity markets, with all three major indexes trading in the red after the opening bell. The Dow Jones Industrial Average fell 0.15% to 48,388.22, while the NASDAQ slipped 0.13% to 23,443.02. The S&P 500 dropped 0.09% to 6,899.74.

Sector Action: Energy Shines, Discretionary Lags

Energy shares provided a rare bright spot, climbing 0.7% during Tuesday's session. On the flip side, consumer discretionary stocks bore the brunt of selling pressure, declining 0.4% and leading sectoral losses.

Housing Data Shows Cooling Price Growth

The headline economic news came from the housing market, where the Case-Shiller Home Price Index revealed moderating price appreciation. The index increased 1.3% year-over-year in October, a slight deceleration from the 1.4% surge recorded in the previous month. The figure exceeded market estimates of a 1.1% gain, but the downward trajectory suggests the housing market may be entering a cooler phase.

Adding to the housing picture, the FHFA house price index rose 0.4% in October, a notable improvement from September's 0.1% decline and surpassing market expectations of a 0.1% increase.

Notable Movers

Several stocks experienced dramatic swings that made the broader market moves look tame by comparison.

On the upside, Profusa, Inc. (PFSA) shares skyrocketed 112% to $0.1445 following news that the company restructured its senior secured convertible note. Antelope Enterprise Holdings Limited (AEHL) surged 99% to $2.25, while Cemtrex, Inc. (CETX) gained 52% to $3.2118 as investors celebrated the firm's return to profitability and looked past a going-concern warning that had weighed on shares earlier in the day.

The downside was equally dramatic. SMX (Security Matters) Public Limited Company (SMX) shares plummeted 30% to $59.62 after already declining 27% on Monday. New Era Energy & Digital, Inc. (NUAI) fell 23% to $2.07 following the company's firm response to a New Mexico lawsuit. CCSC Technology International Holdings Limited (CCTG) dropped 21% to $0.1381.

Commodities Stage Broad Rally

Commodity markets showed surprising strength across the board. Oil traded up 0.5% to $58.36, while gold climbed 1.5% to $4,409.30.

The real standout was silver, which surged 7.1% to $75.455 on Tuesday. Copper also posted solid gains, rising 2.7% to $5.7165.

Global Market Snapshot

European markets painted a more optimistic picture than their American counterparts. The eurozone's STOXX 600 gained 0.5%, while Spain's IBEX 35 Index rose 0.7%. London's FTSE 100 advanced 0.4%, Germany's DAX 40 climbed 0.6%, and France's CAC 40 rose 0.5% during the session.

Asian markets closed mostly lower on Tuesday. Japan's Nikkei 225 fell 0.37%, China's Shanghai Composite slipped 0.004%, and India's BSE Sensex declined 0.02%. Hong Kong's Hang Seng Index bucked the regional trend, surging 0.86%.