S&P 500 Rises Ahead of Fed Decision as Housing Data Signals Slowdown

The S&P 500 climbed 0.46% as investors awaited the Federal Reserve's rate decision, with markets pricing near-certainty of no change to the 4.25%-4.50% target range. President Trump's call for aggressive cuts found no traction in Fed funds futures.

May's housing starts collapsed to pandemic-era lows of 1.256 million annualized, down 9.8% monthly, as mortgage rates and trade uncertainty chilled construction. The downturn in this leading indicator contrasts with equity market resilience.

While traditional markets focus on macro developments, cryptocurrency traders monitor these Fed decisions for potential ripple effects across risk assets. No direct crypto mentions surfaced in this report, but the interplay between monetary policy and digital asset valuations remains critical.