Welcome to DC Today where I, Trevor Cummings, will be your guest host again on this fine Wednesday. Please join me for the video or podcast (links below), as there is quite a bit to cover and discuss today. David Bahnsen will be back on Friday with his normally scheduled program – Dividend Cafe
Dow: -98.54 (-0.32%)
S&P: -0.66%
Nasdaq: -0.85%
10-Year Treasury Yield: 4.131% (+13.3 basis points)
Top-performing sector: Energy (+2.94%)
Bottom-performing sector: Real Estate (-2.56%)
WTI Crude Oil: $85.63/barrel (+3.39%)
Key Economic Point of the Day:
Today we saw the published data for new housing starts and building permits
Housing starts came in at 1.4mm on an expectation of 1.47mm
Down 8.1% seasonally adjusted and down 7.7% year-over-year in September
Looking at the attribution, we see new homes fell 4.7% and new apartment construction fell 13.1%
Building permits came in at 1.56mm on an expectation of 1.5mm
Rising 1.4% in the month of September
Permits for new homes fell 3.1%, with apartment construction rising 8.2%
