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Falling Oil and Mixed Economic Data Weigh on Investors, Twitter Up

August 9, 2023
in Trade Tube
Reading Time: 1 min read
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Stocks were back to extending their losses in midday trading Monday after opening higher. The Dow gave up its triple point lead as oil’s decline stays center stage. Investors are also weighing mixed economic reports. The Empire State index came in negative for the first time in nearly 2 years. Industrial production in November rose however to its biggest increase since May 2010. And home builder sentiment dropped this month by one point. Investors are also weighing mixed economic reports. Homebuilders are tumbling in session. Toll Brothers (TOL) and KB Home (KBH) are down almost a percent. Hovnanian (HOV) is dropping more than 5%. Twitter (TWTR) is rising above the downward trend. The social micro blogging site is gaining after a bullish call from JMP Securities.

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