This week data was released on both existing and new homes sales. According to the National Association of Realtors (NAR), previously owned home sales rose slightly in May by 0.8% to an annualized rate of 4.03 million in a report released on Monday.
Relative calm returned to global markets in Monday trading, with stocks climbing and oil sinking alongside gold as fears subsided that Israel’s war against Iran would escalate into a wider conflict.
The consumer price index (CPI) rose 2.8% in May from a year ago, excluding food and energy items, according to data from the Bureau of Labor Statistics (BLS). Goods prices, again excluding energy and food, were unchanged reflecting lower apparel and used-car prices.
Stocks got a lift in early trading Friday as the US employment report came in better than expected. After the weak private sector report issued by SGK core holding ADP earlier in the week, traders had feared the numbers would come in weaker than expected.
The Federal Reserve released the minutes to its May Federal Open Market Committee (FOMC) meeting this week after the standard three week delay.
Applications for US unemployment benefits fell to a four-week low, adding to evidence that the job market remains healthy in the face of growing uncertainty tied to trade policy. Initial claims decreased by 2,000 to 227,000 in the week ended May 17, roughly in line with forecasts, Labor Department data showed Thursday.