Bonds & Stocks
A rally that drove stocks to a striking distance of their record highs wavered in the countdown to the earnings season, with traders also getting ready for SK Hynix Inc.’s debut after a blockbuster share sale. The S&P 500 was little changed. The yield on 10-year Treasuries was little changed at 4.55%.
Economy
Housing affordability challenges continue to rattle US buyers, as home prices in the country hit an all-time high last month, the National Association of Realtors (NAR) said on Thursday. The median existing home price climbed to a record high of US $440,600 in June.
World
Talks between the US and Iran over a permanent peace deal are continuing, according to a American official, despite two days of clashes that threatened to shatter an already fragile ceasefire. The US is still committed to finding a diplomatic solution with Iran, the official said Thursday, declining to be named discussing sensitive matters. The official described the ongoing discussions as technical talks.