An Hour Ago
A rare event for the Dow and the S&P 500
In Monday’s market rebound, an unexpected event unfolded for the Dow Jones Industrial Average and the S&P 500: Both indexes registered roughly the same point change.
The broad market index gained 0.58% Monday, or 25.67 points. Meanwhile, the 30-stock Dow added 26.23 points, or 0.07%.
The last time these two indexes posted the same point change – rounded up to the nearest whole number, that is – was on June 6, with both adding 10 points.
However, it remains an infrequent occurrence: Prior to June, the last time the S&P 500 and the Dow notched the same point gain was on Jan. 16, 2018.
Dating back to 2010, the two indexes have closed with the same point change 15 times – or less than half a percent of the 3,426 trading sessions that have taken place since then.
-Darla Mercado, Robert Hum
3 Hours Ago
Homebuilder stocks climb as Berkshire reveals stakes
A few homebuilder stocks rose in after-hours trading Monday after a new regulatory filing revealed that Warren Buffett’s Berkshire Hathaway built new stakes in them.
The Omaha-based conglomerate picked up $726 million worth of D.R. Horton shares, $70 million worth of NVR shares as well as $17.2 million worth of Lennar in the second quarter, the filing showed. D.R. Horton climbed 2.8% in extended trading, while Lennar gained 1.7% and NVR rose 1.1%.
These stakes are relatively small for Berkshire, whose equity portfolio is worth nearly $350 billion. They could have been purchased by Buffett’s two investing lieutenants, Todd Combs and Ted Weschler, who oversee about $15 billion each.
— Yun Li
3 Hours Ago
Discover Financial shares fall as CEO steps down
Shares of Discover Financial Services fell more than 5% after the company announced the resignation of CEO Roger Hochschild, effective immediately.
The financial services company’s board appointed John Owen as interim president and CEO, and said Hochschild will stay on as an advisor through the end of the year.
— Samantha Subin
3 Hours Ago
Stock futures open little changed