REVIEW: Overnight Dow Jones Industrial Average dropped for the third consecutive day, losing a moderate 42.25 points to 9,665.19 the previous Friday, as an uninspiring economic data, namely durable goods and home sales raised qualms about the strength of the world’s largest economy, thus fuelling doubts on prospects for a rapid recovery in global equities.
Apparently new orders for long-lasting US manufactured goods fell by their biggest margin in seven months, while August sales of new home fell short of Wall Street’s expectations.