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Traders Digest Housing Market Data as US Equity Futures Turn Lower Pre-Bell
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Traders Digest Housing Market Data as US Equity Futures Turn Lower Pre-Bell
Aug 16, 2024 6:28 AM

09:09 AM EDT, 08/16/2024 (MT Newswires) -- US equity futures fell ahead of Friday's opening bell as traders digested data on the country's housing market.

Dow Jones Industrial Average futures slipped 0.3%, S&P 500 futures declined 0.5%, while Nasdaq futures were down 0.5%.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down nearly 2% at $79.46 per barrel and US West Texas Intermediate crude 2.2% lower at $75.32 per barrel.

US housing starts, released at 8:30 am ET, slowed to a 1.238 million annual rate in July from June's 1.329 million, compared with estimates compiled by Bloomberg for an increase to 1.33 million; while building permits slowed to 1.396 million from 1.454 million previously, compared with estimates for a smaller drop to 1.43 million.

Consumer sentiment, due at 10 am ET, is expected to edge higher to 66.7 in August from July's 66.4.

In other world markets, Japan's Nikkei closed 3.6% higher, Hong Kong's Hang Seng ended 1.9% higher, and China's Shanghai Composite finished 0.07% higher. Meanwhile, UK's FTSE 100 fell 0.6%, and Germany's DAX 30 index gained 0.4%, while France's CAC 40 was up 0.06% in Europe's early afternoon session.

In equities, shares of H&R Block ( HRB ) were nearly 9% higher pre-bell after the company reported fiscal Q4 financial results that topped analysts' estimates. Greenland Technologies ( GTEC ) shares rose 29% after the company reported a higher Q2 profit.

On the losing side, Shimmick ( SHIM ) shares slumped 28% after the company reported weaker fiscal Q2 financial results. Sonida Senior Living ( SNDA ) shares fell 15% after the company priced a public offering of 4.3 million common shares at $27 per share.

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