TheStreet’s Conway Gittens brings you the biggest news of the day, including what investors are watching and how BYD bested Tesla for the first time.
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00:00I'm Conway Gittens, reporting from the New York Stock Exchange. Here's what we're watching
00:03on the street today. Markets ended a dark week with a note of optimism. Amazon gave
00:09investors what they wanted with better-than-expected third-quarter results. It was a different
00:14story for Apple. iPhone sales were the best ever for a September quarter, but revenue
00:19from its services business was disappointing. Looking now at the intersection of money and
00:25politics, if you bought a home during the Biden years, you're better off than those
00:29who bought in the Trump years. Under Biden's watch, median home values jumped by more than
00:35$106,000 from 2020 to 2024, compared to the more than $72,000 gain when Trump was in the
00:44White House from 2016 to 2020. According to data by the National Association of Realtors
00:50and analyzed by USA Today, the growth in home equity is more stark for those who live in
00:56many of the so-called political swing states. Home ownership wealth in Arizona, North Carolina,
01:02Nevada, Georgia and Wisconsin all exceeded the national median during Biden's presidency.
01:09The biggest spike in home equity came in North Carolina. Housing wealth grew in that state
01:14by 60 percent, nearly double the 34 percent median gain across the country. Meanwhile,
01:21the median national home price hit $416,700 in August. Two swing states, Arizona and
01:28Nevada, topped that. Arizona came in at just under $449,000, while Nevada came in at $447,000.
01:37Talking home prices around the election can be a two-edged sword, according to economists
01:42and political experts. Americans who don't own a home are likely to view home price gains
01:48soberly and tend to lean toward a change in the White House. On the other hand, homeowners
01:55are likely to feel more financially secure and tend to vote for the party in power.
02:01That'll do it for your daily briefing from the New York Stock Exchange. I'm Conway Gittins
02:04with The Street.