Wall Street week ahead: housing market, unemployment updates
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NEW YORK (AP) — Wall Street will get a key update this week on the U.S. housing market, along with a regular weekly unemployment update.
On Thursday, the U.S. will release its August report for sales of newly-built homes. It details the sale of brand-new homes and sales contracts for homes that are under construction. That differentiates it from the monthly report on existing home sales, which focuses on previously occupied homes.
The data provides more details on the supply and demand situation for housing, while giving Wall Street and economists a glimpse into the market conditions for home builders and the related construction materials companies.
Economists expect that the report will show a slight sales increase in August. That compares with the latest report on existing home sales for August, which showed a decrease. The broader housing market is under pressure from rising mortgage rates and home prices.
Mortgage rates were already historically high heading into 2026, but have marched higher throughout the year as the U.S. war with Iran chokes global oil supplies. Surging oil prices have pushed up long-term bond yields that lenders use as a guide to price home loans.
The U.S. will also release its weekly report for unemployment claims on Thursday. Claims for jobless benefits are a proxy for layoffs, and economists watch them because they can be a sign of where the job market is headed. They have held mostly steady in a historically low range over the last year and the broader job market has remained resilient amid inflation squeezing consumers and businesses.