Housing, Jobs Data Weigh on Stocks

Amid weak reports on pending home sales and private-sector employment, traders weighed the possibility of a Fed rate cut on Sept. 18

U.S. stock indexes ended lower on Wednesday, as investors reacted to weaker-than-expected private-sector employment data that could presage a gloomy payrolls report on Friday, and to lower pending home sales that hinted at a deepening housing market slump. There was no relief from the Federal Reserve's Beige Book report, which failed to provide clear signs about whether the central bank will cut interest rates on Sept. 18.

To continue reading this article you must be a Bloomberg Professional Service Subscriber.