Stocks are way overdue for a correction and this may be it. But don't dismay. Last week was volatile, the Dow lost 466 points and the S&P 500 dropped 3.1%. But even with that, the broad index S&P 500 is up 3.1% year to date. So it's not a disaster. Corrections come and go. (CNBC)
Americans' confidence in the housing market is on the rebound. More than two-thirds polled said they think it's a good time to buy a home, while only one in four said they would rent. Historically low mortgage rates make buying attractive. But while borrowing costs are low, relatively few are taking the plunge. In August total existing home sales remain more than 5% below the 5.33 million-unit level from the same period last year. (CNBC)
A new survey lists the top college majors that make someone the most employable. Business majors (27%) are the best bet followed by engineering (20%), accounting (14%), nursing (6%) and computer and information sciences (5%). Those on the bottom included math and statistics (1), science technologies (1%), communications technologies and finance (both at 0%). (CNBC)
Oil is dropping. West Texas Intermediate has gone from $105 to $85 in three months.
Gold settled lower on Friday as a rise in the dollar capped four days of gains, though the metal remained supported around the $1,220 level by the prospect of a widespread economic slowdown that could keep interest rates low. Strength in the U.S. currency drove commodities lower across the board.