October new home sales better than expected
The S&P 500 is down 0.4%, and the Russell 2000 is down 0.7%. New home sales decreased 0.3% m/m in October to a seasonally adjusted annual rate of 999,000 units (Briefing.com consensus 977,000) from a downwardly revised 1.002 mln in September (from 959,000).Personal income decreased 0.7% in October (Briefing.com consensus 0.0%) following a revised 0.7% increase in September (from +0.9%). Personal spending increased 0.5% (Briefing.com consensus +0.3%) following a revised 1.2% increase in September (from +1.4%). The PCE Price Index was unchanged in October, and the core reading, which excludes food and energy, was also unchanged (Briefing.com consensus +0.1%). Year-over-year, the core PCE Price Index was up 1.4% versus 1.6% in September.The final reading of the Michigan Consumer Sentiment Index for November decreased to 76.9 (Briefing.com consensus 77.0) from 77.0 in the preliminary reading.