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On the SPOT™ blog (08/22/2023) [D..]

Existing home sales seems to have dropped in July which might be somewhat of a good news for homebuilders as supply of pre-owned homes is less in the market that might be increasing demand for new homes. Home builder stocks have done well in view of housing market conditions. Banking sector seems affected by credit rating agencies as there was news about S&P Global Ratings downgrading credit ratings of some banks. Broader markets still seem undecided on direction albeit it recovered a lot yesterday perhaps after getting pulled up by +ve sentiments from tech stocks (NVDA and TSLA in particular). This morning (PST), DJIA and S&P500 are in red while Nasdaq Composite appears to be in slight green.

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