Market Rout Sinks Stocks
As the trading session ended September 15, 2015, just ahead of the Federal Reserve's decision on interest rates, volatility still ruled..
The HVACR Business Stock Index swooned with the national markets, and lost 68 points, or 5.76 percent, and closed at 1113.17. Declining issues dominated advancing issues by a 29-to-4 count.
The National Association of Realtors said that sales of existing homes grew by 2 percent in July, the third straight month of increases and the most resilient pace in eight years.
The Conference Board said its consumer confidence index swelled to 101.5 in August, following a July reading of 91.
The Labor Department said that applications for unemployment benefits fell 6,000 to 275,000. Applications have been below the 300,000 mark for six months, a run not seen in 42 years.
Airgas tumbled 12.96 points, or 12.12 percent. Investment firm Baird cut its rating on ARG to "neutral" from "outperform."
Nortek rose 3.27 points, or 4.38 percent. The Wall Street Journal reported that United Technologies is in talks to acquire Nortek. No details of the transaction were revealed, and neither company would report on the speculation.
Year-to-date combined shipments of central air conditioners and air-source heat pumps increased 2.3 percent, to 4,647,076 units, up from 4,541,415 units shipped in July 2014.