The two-day Federal Reserve policy meeting began today, with investors watching closely to see what impact the meeting will have on the economy going forward.
The Commerce Department is reporting a 6.8% rise in housing starts in May to a seasonally adjusted annual rate of 914,000 units. The report fell just short of what economists were looking as estimates called for 950,000 units.
Also on the economic front, the Labor Department said consumer prices went up just 0.1% in May. Excluding volatile items like food and energy, consumer prices rose 0.2% last month.
In corporate news, Sprint (NYSE:S) is suing to block the proposed buyout of Clearwire (CLWR) by Dish Network (NASDAQ:DISH). According to Sprint, the deal violates the rights of Clearwire shareholders.
Tomorrow, we'll take a look at the numbers for weekly mortgage applications as well as earnings from FedEx (NYSE:FDX).
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