Bonds & Stocks
Stocks rose and oil fell on optimism the US and Iran are moving toward talks after days of deadlock, fueling hopes for a diplomatic way out of the war that has jolted markets and clouded the economic outlook. The S&P 500 rose 0.3%. The yield on 10-year Treasuries advanced two basis points to 4.34%.
Economy
Higher mortgage rates and economic jitters are holding back many prospective buyers in middle- and lower-priced regions such as Texas and Florida. The US housing market is slipping deeper into dysfunction, with sellers outnumbering buyers by about 43%, and pending home sales falling 1.1% last month from March 2025.
World
Iran’s foreign minister is expected to arrive in Pakistan, the main mediator between Tehran and Washington, though it was unclear if he’d meet American officials. Abbas Araghchi is due in Islamabad on Friday and a second round of peace talks between the US and Iran is expected.