A rally late last week pulled the markets higher, but not enough to overcome a midweek tumble. On Monday, stocks increased on a jump in commodity prices boosting shares of energy and mining companies. Tuesday, Technology shares sent the NASDAQ to a record high. According to the Census Bureau, the pace of new home construction took a step back, as the annualized rate of housing starts in April was 2.6% below the March total. Housing starts, housing completions and the number of building permits each lagged in volume compared to March. Indices concluded trading in the red zone on Wednesday, with stocks dipping in the wake of turbulence in Washington. Meanwhile, crude oil prices ticked up as Energy Information Administration data showed stockpiles decreased by 1.8 million barrels in the last week. Global stock losses extended through Thursday on uncertainty about the Trump administration. Indices rebounded from early week lows on Friday, with stocks moving up on gains in the Energy sector and earnings news.
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