May existing home sales rose to 4.17m units, exceeding expectations, while the April trade deficit shrank to $55.9 billion.
US existing home sales reached 4.17 million units in May, surpassing the 4.07 million forecast, according to data released today. The April international trade deficit narrowed to $55.9 billion, slightly better than the $56.1 billion estimate, signaling a modest improvement in trade dynamics.
The NFIB small business optimism index dipped to 95.3 in May, below the expected 96.0, reflecting cautious sentiment among smaller enterprises. Canada’s April trade balance also outperformed, posting a $2.72 billion surplus against a $2.57 billion forecast.
Markets showed mixed reactions, with gold falling $72 to $4,256 and WTI crude down $2.77 to $88.54. US 10-year yields declined 2.6 basis points to 4.52%, while the S&P 500 slipped 0.3% amid broader volatility in tech stocks.