From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 5/11/2026
U.S. equity markets opened the week mixed following the U.S. rejection of Iran’s latest proposal to end the war. The S&P 500 and Dow Jones Industrial Average edged modestly higher, while the Nasdaq slipped slightly. The S&P 500 and Nasdaq are coming off a sixth consecutive weekly gain, and the Dow posted its fifth positive week out of the past six. Oil prices moved higher in response to the rejection of the proposal.
Existing home sales posted a modest increase in April, rising 0.2% month-over-month to a seasonally adjusted annual rate of 4.02 million, leaving sales unchanged from a year earlier. Sales were just below expectations of 4.01 million units. Inventory continued to improve, with the number of homes for sale increasing 5.8% from March to 1.47 million units, representing a 4.4 month supply. The median existing home price rose 0.9% from a year ago to $417,700, extending the streak of annual price gains.
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