**U.S. Stock Market Updates – September 12, 2023**
The S&P 500 Index is up 0.30% today, with the Dow Jones Industrial Average rising 0.05% and the Nasdaq 100 Index climbing 0.68%. E-mini S&P futures increased by 0.32%, and September E-mini Nasdaq futures are up 0.73%. This market uptick coincides with a reported decline in crude oil prices, which fell after the American Petroleum Institute (API) revealed a substantial rise in U.S. crude inventories by 7.1 million barrels last week, alongside increases in gasoline and distillate supplies.
In the economic sector, U.S. August retail sales rose by 1.2%, surpassing expectations of 0.8%, marking the largest increase in five months. However, the NAHB housing market index for September dropped to 32, matching a 3.75-year low and below the expected 34. Additionally, mortgage applications fell by 4.1% in the week ending September 11, as the average 30-year fixed-rate mortgage hit a 15-month high of 6.97%. The Federal Reserve raised its interest rates by 25 basis points to a target range of 3.75%-4.00%, the first increase since early 2023.
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