Ben Carter is a staff writer at P&L, covering markets, dealmaking, and public companies. He previously worked in equity research, focusing on valuation, earnings, and IPOs.
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Zillow economist Kara Ng said the geopolitical shift brought only a slight reprieve as mortgage rates fell after Iran and ceasefire headlines eased oil fears.
U.S. jobless claims rose by 16,000 to 219,000, while inflation is expected to climb as the Iran war lifts energy, food and financing costs.
Brent rebounded above $99 a barrel as traders questioned whether the Strait of Hormuz will reopen after the ceasefire.
