The S&P 500 Index is up 0.08%, while the Dow Jones Industrial Average is down 0.06%, and the Nasdaq 100 is up 0.28%. The Federal Reserve has kept interest rates steady at 4.25%-4.5%, projecting two rate reductions later this year despite expectations of higher inflation and slower growth.
Initial weekly unemployment claims in the U.S. decreased by 5,000 to 245,000, matching expectations. However, U.S. housing starts fell by 9.8% month-over-month to 1.256 million, a five-year low, while building permits unexpectedly dropped by 2.0% to 1.393 million, the lowest in nearly five years.
In geopolitical news, tensions escalate as the conflict between Israel and Iran continues, with President Trump calling for Iran’s “unconditional surrender.” The U.S. is considering mediation talks with Pakistan as signal disruptions affect maritime traffic in the Strait of Hormuz, crucial for global oil shipments.
