The market is reversing earlier losses but still flat on a busy day of headlines related to earnings, economic data, and the conflict in the Middle East.
The S&P 500 is filling up the September 21 gap and getting closer to its 50-day moving average.
Yields also soared after a couple of strong economic data points about consumer spending and increased manufacturing output.
Industrial production rose 0.2% to 79.7% in September, increasing for a third straight r. Capacity utilization for manufacturing and mining moved up, while utilities fell back.
The NAHB Housing market index showed homebuilder optimism falling for its third consecutive month in October.
Traffic of prospective buyers, present conditions and future expectations came in at the lowest levels since January.
Technology is the down today, partially driven by weakness in semiconductors. NVIDIA (NVDA) is the top laggard after news that the US will put more restrictions on China’s ability to purchase advanced semiconductors.
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