The S&P 500 Index is down 0.18% and the Nasdaq 100 Index has decreased by 0.83%, while the Dow Jones Industrial Average has risen 0.69%, reaching a new all-time high. This mixed performance comes amidst a drop in crude oil prices, now at a 3.25-month low, which fell by over 3% today, resulting in weaker sentiment for energy and software stocks.
Key economic indicators released today show that U.S. housing starts fell 15.4% month-over-month in May, hitting a six-year low of 1.177 million, compared to expectations of 1.430 million. Building permits also fell by 0.7% to 1.413 million, below the anticipated 1.418 million.
Market participants are focusing on the 2-day FOMC meeting beginning today, where Fed Chair Kevin Warsh is expected to maintain interest rates, with only a 4% chance of a 25 basis point hike projected by markets.
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