US to release August new home sales data on Thursday amid high mortgage rates

Wall Street will receive key updates this week on the U.S. housing market and unemployment. On Thursday, the U.S. will release its August report on new home sales, which economists expect to show a slight increase, contrasting with a recent decline in existing home sales. The housing market faces pressure from high mortgage rates and home prices, exacerbated by rising oil prices due to the U.S. conflict with Iran. Additionally, the weekly unemployment claims report will be released, with claims having remained historically low over the past year, indicating a resilient job market despite inflation.