From the Desk - Economic Commentary
Brandon Casey, Member Strategies - 6/15/2026
U.S. equity markets are trading higher to begin the holiday shortened week as investors monitor the latest developments in the war with Iran. President Trump announced that a deal had been reached between the two countries to end the war, bringing the four-month conflict to an end. The deal is expected to be signed on Friday, at which point the Strait of Hormuz will open. All three major averages are up at least 1% in early trading.
Industrial production increased in May 2026, rising 0.3%, following a stronger 0.7% gain in April. Manufacturing output edged higher by 0.2% and mining increased modestly, while utilities output declined. On a year over year basis, total industrial production was up approximately 1.2%. Capacity utilization rose slightly to 76.2%, remaining below its long run average.
Home builder sentiment weakened in June, with the NAHB/Wells Fargo Housing Market Index falling 2 points to 35, below expectations of remaining unchanged at a reading of 37. The decline reflects continued softness in builder confidence, driven in part by affordability challenges and elevated financing costs. Among the index components, current sales conditions fell to 38, while sales expectations for the next six months held steady at 45, and traffic of prospective buyers remained unchanged at 25. The report also showed that 35% of builders reduced prices in June, while the use of sales incentives rose to 62%.
Subscribe to our daily From the Desk newsletter to get economic commentaries and updated market rates sent directly to your inbox.
Subscribe Here