Retailers and other consumer companies fell, but not by as much as the broad market, as traders sought out bargains following a prolonged rout.
Shares of casino companies with operations in Macau rose after the city's government said it would ease restrictions for visitors from mainland China. Shares of Las Vegas Sands and Wynn Resorts surged.
About 64,000 home-purchase contracts fell through in August, roughly 15.2% of the total, up from 12.1% a year earlier and comparable with July's revised rate of 15.5%.
With the 30-year mortgage rate set to top 7%, home sales could fall further than previously estimated before a rebound in the second half of 2023, said analysts at brokerage Wedbush.
Write to Rob Curran at rob.curran@dowjones.com
(END) Dow Jones Newswires
09-26-22 1715ET
