Business

U. S. MARKETS RECOVER FOR DAY DESPITE WEAK CHINA DATA

by The Chicago Times Business Staff

October 18, 2021

NEW YORK — Despite a report revealing slower-than-expected growth in China, which was blamed for early weakness, U.S. stocks finished mostly higher Monday, with buying in consumer discretionary and information technology helping to support the broader market.

The Dow Jones Industrial Average finished down 36.15 points to 35,258.61.  The S&P 500 rose 15.09 points to reach 4,486.49.  The Nasdaq gained 124.47 points to close at 15,021.81

China reported 4.9% year-on-year growth in the third quarter, a significant decrease from 7.9% in the second quarter, as construction output slowed.

According to economic reports, industrial output in the United States fell 1.3 percent in September.  The August reading was revised lower to a 0.1 percent decline from a 0.4 percent gain.

The National Association of Home Builders reported that its monthly confidence index rose four points to 80 in October, the highest reading since July.

Categories: Business

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