The S&P 500 Index ($SPX) fell by 0.19% and the Dow Jones Industrial Average ($DOWI) decreased by 0.57%, while the Nasdaq 100 Index ($IUXX) rose by 0.20% in mixed market conditions on April 29, 2026. Crude oil prices surged by over 4%, reaching a two-week high as tensions persisted with U.S. naval blockades of Iran affecting oil flows through the Strait of Hormuz, leading to potential global energy shortages.
U.S. March housing starts unexpectedly increased by 10.8% month-over-month to a 15-month high of 1.502 million, exceeding forecasts of a decline to 1.380 million. In capital goods, new orders rose by 3.3%, far surpassing expectations of 0.5% and marking the largest increase in over 5.75 years. Conversely, mortgage applications dropped by 1.6% recently, with the average 30-year fixed-rate mortgage increasing to 6.37% from 6.35%.
The Federal Reserve’s two-day meeting is set to conclude today, with no rate changes expected. Fed Chair Jerome Powell’s upcoming comments will be closely watched for future policy guidance as his term ends on May 15. Kevin Warsh’s nomination as the new Fed Chair appears to be progressing after Senator Thom Tillis withdrew his opposition following the conclusion of a Justice Department investigation.
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