Economic releases : The August new home sales report lands on Tuesday and the pending home sales report on Thursday. Both are important, since affordability remains under immense pressure as mortgage rates are at the highest levels in over two decades and list prices are holding firm. Sticky housing prices are also a key watch item for the Fed as it decides the future path for interest rates.
United Auto Workers members and supporters on a picket line outside the Stellantis NV Toledo Assembly Complex in Toldeo, Ohio, US, on Friday, Sept. 22, 2023.It was another downer of a week on Wall Street with all three major averages posting steep losses despite a bounce back on Friday. The S&P 500 and the technology-heavy Nasdaq fell 2.3% and 2.9% this week, respectively, while the Dow Jones Industrial Average lost 1.5%.