Major stock indices were down in midday trading today.
The S&P 500 fell 0.8% to 1,994.48. The Dow Jones Industrial Average fell 0.47% to 17,198.79. The Nasdaq fell 1.3% to 4,519.62.
The yield on a 10-year Treasury bond fell 1.1% to 2.56%.
The price of gold was up 0.55% to $1,226.50.
HOMEBUILDING
OC homebuilders were down again at midday. Following declines Friday based on fewer new housing starts in August, the stocks are down again today from a report on sales of existing homes. Those sales dropped 1.8% from July and 5.3% from the same period last year. The annualized rate was 5.05 million homes; economists had expected 5.2 million.
Irvine-based Tri Pointe Homes was down 3.7% to $13.64 and a market capitalization of $2.2 billion. Irvine-based Standard Pacific Corp. was down 2.4% to $7.81 and a market cap of $2.2 billion. Newport Beach-based William Lyon Homes was down 3.2% to $23.77 and a market cap of $742.3 million. Aliso Viejo-based New Home Company Inc. was down 3% to $13.54 and a market cap of $222.7 million.
