Market Wrap: Housing Starts Abate in June; Big Director Changes; Microsoft Slashes Jobs - InvestingChannel

Market Wrap: Housing Starts Abate in June; Big Director Changes; Microsoft Slashes Jobs

Market wrap for July 17th

End of the Day: S&P 500 down 23.5 to 1,958.12; Dow Jones down 161.4 to 16,976.81; Nasdaq down 62.5 to 4,363.45

*The U.S. Census Bureau and the Department of Housing and Urban Development jointly announced the following new residential construction statistics for June 2014: Privately-owned housing starts in June were at a seasonally adjusted annual rate of 893,000. This is 9.3 percent (±10.3%)* below the revised May estimate of 985,000, but is 7.5 percent (±14.4%)* above the June 2013 rate of 831,000. Consensus views were looking for a June