— U.S. retail sales rose a meager 0.1% in May from April as still high inflation curbed spending.
— New U.S. housing starts were down 5.5% in May (from April) and down 19.3% from May 2023, amid buyer uncertainty about mortgage rates.
— U.S. manufacturing activity picked up in June (per the Flash PMI Index), hitting a 26-month high, with the service sector also showing strength; companies reported fewer price increases.
— The central banks of England and Norway kept interest rates steady, while the Swiss lowered rates for the 2nd time by 25 basis points, providing support for European equities ahead of French elections.
— More U.S. states are expected to roll out energy-efficiency rebates this summer to homeowners, per the $8.8 billion provided in the Inflation Reduction Act.
