Shares of retailers and other consumer companies slipped as consumer confidence waned in October.
The index of consumer confidence dipped to 100.3 this month from a pandemic high of 101.3 in September, the Conference Board said.
The decline was slightly bigger than Wall Street expected. Meanwhile, the S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices in major metropolitan areas across the nation, rose 5.7% in the year that ended in August, up from a 4.8% annual rate the prior month. Sales of previously owned homes, which make up the bulk of the housing market, rose 2% in August from a month earlier, according to the National Association of Realtors, as low mortgage-interest rates and a desire for more space lured buyers into the market.
A shortage of homes for sale has led to competition among buyers and pushed home prices higher.
In deal news, Callaway Golf is nearing a deal to buy the rest of driving-range operator Topgolf, The Wall Street Journal reported, citing people familiar with the matter, in a move that would bring a company known for its clubs and golf balls into the fast-growing sports-entertainment business. The companies are discussing a deal that would value closely held Topgolf at more than $2 billion, the people said.
Amazon.com said it plans to hire 100,000 seasonal workers in the U.S. and Canada heading into the Thanksgiving and Christmas holidays ahead of an expected surge in online orders. The company will report third-quarter results on Thursday.
Write to Amy Pessetto at amy.pessetto@dowjones.com
(END) Dow Jones Newswires
10-27-20 1721ET
