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Existing-home sales dropped 2% in August to a seasonally adjusted annual rate of 3.98 million, the National Association of Realtors said. The report cited rising mortgage rates hurting already-slow demand.
U.S. stock futures fell Tuesday, with the Dow, S&P 500 and Nasdaq 100 lower as Brent crude climbed above $99 a barrel and investors awaited Friday’s August CPI report and Apple’s product event Wednesday.
Lululemon reported second-quarter revenue of $2.4 billion, down 4% year over year, and lowered full-year revenue guidance to $10.35 billion-$10.5 billion, citing softer sales trends and inconsistent product launch performance.