September 24, 2025 (Wednesday)
Economic Indicators
- New Home Sales (August): Detailed figures were released, but the housing market continues to stagnate.
Key Financial News
- Stock indices fall for the second consecutive day: Profit-taking continues after three straight days of record highs, with the S&P 500 declining.
- Growing valuation concerns: The stock rally following the Fed's rate cut has created a sense of overheating, making investor sentiment more cautious.
Analysis
The sluggishness in new home sales indicates that high interest rates and increased inventory are weighing on housing demand. In the broader market, the adjustment continues in the wake of yesterday's comments from Powell, and the typical September weakness (the "September effect") is becoming apparent. While expectations of an additional Fed rate cut provide support, a short-term correction seems unavoidable.