New home sales edged higher in July, one of the only areas in the housing market showing signs of life.
The uptick in activity underscores how buyers left in the market are still turning to new construction as builders capitalize on the shortage of previously-owned homes.
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Nvidia earnings, new home sales, GOP debate: What to watchYahoo Finance Live breaks down what investors should be watching on Wednesday. All eyes will be on Nvidia (NVDA) when the GPU company reports its second quarter earnings after the market close. The stock is up more than 210% since the start of the year thanks to the surge in interest in AI. Cloud company Snowflake (SNOW) will also report its second quarter results after the bell. Investors will also get a read on housing when July new home sales data is released at 10am ET. It comes after existing home sales data showed sales fell last month as tight inventory and high mortgage rates weigh on the market. Voters will hear from Republicans in the first debate of the 2024 presidential campaign cycle. One notable absence will be former President Donald Trump, who has chosen not to participate.
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