Stocks are having a red start on Monday following the S&P 500’s third straight weekly gain last week.
Near 10:26 a.m. ET, the Dow was down 30 points, the S&P 500 was down 3 points, and the Nasdaq was up 10 points, all less than 1%.
Commodities are also in the red this morning. West Texas Intermediate crude futures in New York fell about 2.5% to as low as $46.47 per barrel. Copper slid 1%, while gold was down less than 1% near $1,176.
There was big news overnight from China, as the country reported that its economy grew 6.9% as measured by gross domestic product in the 12 months to September. It was the slowest growth pace in six years.
The GDP print beat economists’ expectations. And meanwhile, some are said there were good reasons to be skeptical of the accuracy of the data.
In economic data, the National Association of Homebuilders’ index for October surged to a 10-year high, at 64.
Housing data dominate the calendar this week, and Business Insider’s Sam Ro has your complete preview of these and all the other potential market movers this week.
In earnings, Morgan Stanley reported earnings of $0.34 per share, which missed expectations. The company said market volatility during the third quarter impacted its results.
And, Halliburton reported a quarterly loss and a miss on revenues amid weakness in North American activity.