Market Update – August 27, 2013 – Stock Prices Lower

The tensions in Syria are pushing Stock prices lower today and is shifting investing dollars over into the Bonds markets. U.S. allies are readying plans for an air strike against the nation after 100,000 people have died and 1 million children have become refugees.

Over in the housing sector, the Case Shiller Home Price 20-city Index rose by 12.1% in the year ended in June, just below the 12.2% registered in May. From May to June there was a 2.2% increase, but that is down from the 2.5% recorded from April to May. The report signals that the housing recovery continues, but at a slower pace.

Consumers remained optimistic in August despite the growing debt ceiling woes and as the fed readies to ease back on stimulating the U.S. economy. The Conference Board reported this morning that the Consumer Confidence Index rose to 81.5 in August from the 81.0 recorded in July. A spokesperson for the Conference Board said consumers were moderately more upbeat about business, job and earnings prospects