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A report released by the National Association of Realtors on Thursday showed a sharp pullback by pending home sales in the U.S. in the month of April. NAR said its pending home sales index plunged by 7.7 percent to 72.3 in April after spiking by 3.6 percent to an upwardly revised 78.3 in March. Economists had expected pending home sales to decrease by 0.6 percent.

First-time claims for U.S. unemployment benefits crept modestly higher in the week ended May 25th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims rose to 219,000, an increase of 3,000 from the previous week's revised level of 216,000. Economists had expected jobless claims to inch up to 218,000.

Revised data released by the Commerce Department on Thursday showed U.S. economic growth slowed by more than previously estimated in the first quarter of 2024. The Commerce Department said gross domestic product climbed by 1.3 percent in the first quarter compared to the previously reported 1.6 percent jump.

Revised data released by the Commerce Department on Thursday showed U.S. economic growth slowed by more than previously estimated in the first quarter of 2024.

At the Jackson Hole, Wyoming global economic symposium, Fed Chair Jerome Powell stated that the US economy didn’t’ cool down as expected and will proceed “carefully” for the next decisions.