Wednesday's Markets Update (October 18, 2023)

19 Oct 2023 by rate3

On Wednesday, the number of building permits decreased, and the Nasdaq fell in line with the other two major stock indexes. The Middle East conflict and earnings season weighed on investor sentiment. Nvidia was among the top underperformers. BTC and ETH were lingering below 28.4K and 1.53K, respectively.

Details

In September, the number of building permits in the US decreased by 4.4% compared to August, reaching a seasonally adjusted annual rate of 1.473 million. The decrease was primarily due to a rise in mortgage rates, which impacted housing demand. However, the ongoing shortage of available homes in the market provided some support. The decrease was seen across various US regions, with the South, West, Midwest, and Northeast experiencing the largest decreases.