On Monday, the markets finish positive following news that Apple will give a a $2.65/share dividend, as well as buy back $10 billion in shares. US home builders’ confidence also hit a five-year high, signaling that faith in the housing market may be returning. These gains were surrendered on Tuesday on concerns that China’s economy may be slowing. On Wednesday, another modest loss followed from news that existing home sales had dipped unexpectedly. Disappointing European and Chinese manufacturing reports sent the Dow to a third consecutive loss on Thursday. On Friday, the markets rebounded despite US new homes sales falling for the second month in a row. Still, the Dow and S&P 500 finished with their largest weekly loss of 2012.
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