Thank goodness. The weekend is finally here and the major indices managed to once again close at record levels — despite the ominous undertones of Friday the 13th. So before you log off to dream of a sunny day spent on a yacht, what did the stock market do today?
The $S&P 500 index(.SPX.US)$ closed up by 0.16%
The $Dow Jones Industrial Average(.DJI.US)$ closed up by 0.04%
The $Nasdaq Composite Index(.IXIC.US)$ closed up by 0.04%
So what else did the stock market do today? Here are some of the top stories.
What Did the Stock Market Do Today? Find Balance.
Chances are you feel a little unbalanced heading into the weekend (perhaps you drank one too many cups of coffee like me to get through Friday). However, real estate brokerage $Redfin Corp(RDFN.US)$ is confident that a sense of balance is returning… at least in the housing market.
One of the largest pandemic stories has been the explosion in the housing market. Millennials became homebuyers for the first time. Families left cities in search of backyards, swimming pools and more square footage. Companies let their workers go remote, forever. Shortages due to supply-chain disruptions meant houses on the market were even harder to come by.
This series of intersecting factors has led to absolute chaos. Homeowners have had unusual power (choosing to take things like toilets with them when they move out). Homebuyers have found themselves in a bit of a rut, promising naming rights to their first-born children and bidding way over asking prices.
Now though, Redfin thinks this reality could be coming to an end. A new report shows that the housing market is “no longer heating up.”
Specifically, Redfin says the share of houses for sale with price drops rose once again this week. Homes are staying on the market for slightly longer, and median selling and asking prices are coming back down. While these numbers each are inflated compared to levels from last year, on a week-over-week basis they show a declining trend.
So what does this mean? According to Redfin, it is a sign that everyone in the housing market can take a deep breath as balance returns. For investors betting on housing stocks, it may be the first sign that the frantic rush of the past year is coming to an end. RDFN stock closed down Friday by 4.8%.
SPACs, Infinity Squeezes and Micro-mobility
Today, $GreenVision Acquisition Corp(GRNV.US)$ closed its merger with micro-mobility firm Helbiz. On the surface level, this was a victory for Helbiz, the first Nasdaq-listed company specializing in micro-mobility. Headquartered in New York City, Helbiz promises to transform transportation through its e-scooter, bike and moped programs. It also markets Helbiz Kitchen, its own food delivery service.
Comment(11)
But most stocks in d red😰
Wow
good morning
nice
The index is one thing…. But many many many stocks are red. It’s very odd actually
Agree
Nice
ok
morning
Seems like small caps didn’t do well on Fri
good
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