Bonds & Stocks
US stock futures rose, helped by a retreat in oil prices, while investors looked ahead to Micron Technology Inc.’s results for the latest read on whether artificial intelligence spending is living up to expectations. S&P 500 futures rose 0.3%. The yield on 10-year Treasuries declined five basis points to 4.45%.
Economy
The US House of Representatives on Tuesday passed the most significant housing legislation in decades on a 358-32 vote, sending to the President’s desk a bill with rare bipartisan backing that’s aimed at showing action on voters’ affordability concerns. The bill would streamline rules around factory-built housing, encourage localities to remove barriers to construction and curb large institutional investors’ ownership of single-family homes in a bid to bring more supply to the stagnant housing market.
World
President Donald Trump said Iran will be able to use funds released from frozen accounts only to purchase food and medical supplies from the US, seeking to ease concerns about peace negotiations that both sides say are making progress.