U.S. equities rotated back into the red
U.S. equities rotated back into the red briefly after disappointing housing starts data, which sank 5.5% to a 1,092k pace in May. This followed moderate gains on global stocks and after selling pressure on tech shares eased up a bit. Fedspeak is due from Kaplan of Dallas, who is a moderately hawkish voter. Oil prices regained some poise, with WTI crude 0.8% firmer near $44.80 bbl, while the dollar index has retreated 0.2% to the 97.30 area. The Dow and S&P are slightly in the red, while NASDAQ is 8-points lower after being de-FANGed earlier in the week. In Europe, the French CAC is outperforming at +0.7% ahead of another round of French elections expected to go PM Macron's way, while the Euro Stoxx 5 is 0.36% firmer. In Asia, Japan's N-225 gained 0.5% after the BoJ kept policy steady, while China's CSI 300 eased 0.3% after the PBoC injected a little liquidity into the banking system. Nike fell another 1% after a JPM downgrade. Up next is U. Michigan sentiment.