Nasdaq opens lower as AI stocks slide again after a South Korean AI firm's IPO drops about 30%
CNBC reported the Nasdaq fell 0.4% and the S&P 500 0.2% at Tuesday's open, with Micron, Intel and Sandisk down about 2%, after Elice Group plunged in its Kosdaq debut. Yonhap reported Elice closed at 61,500 won, 32% below its 90,500-won IPO price, and South Korea's Kospi fell 3.73%. On Monday the Nasdaq had risen 1.1% after last week's AI-driven selloff.
Source: CNBC (also Yonhap, Barron's) (opens in new tab)
Brent crude hits a five-month high above $111 as Houthi attacks raise supply worries, Reuters reports
Reuters, via CNBC, reported Brent rose to $111.05 a barrel Tuesday, the highest since May, and U.S. crude topped $104 after the Houthis said they attacked Saudi energy, airport and military sites, claims Saudi authorities did not immediately confirm. Shiptracker Kpler said at least 18 vessels were reportedly attacked over two weeks; Barron's reported Brent is up 13% in October.
Source: Reuters via CNBC (also Barron's) (opens in new tab)
U.S. housing starts fell 5.2% in September to a 1.22 million annual pace, Census Bureau says
The Census Bureau said privately owned housing starts ran at a seasonally adjusted annual rate of 1,221,000 in September, down 5.2% from August and 7.4% from a year earlier, though the monthly change was within the survey's margin of error. Single-family starts fell 4.6% to an 859,000 pace, and building permits slipped 0.2% to 1,400,000. CNBC also reported the decline.
Source: U.S. Census Bureau (also CNBC) (opens in new tab)