Good afternoon, you're listening to Markets Desk.
Housing data deteriorated further in September, adding pressure to an already rate-sensitive sector. With the Fed still weighing additional hikes, the numbers reinforce a familiar tension — tighter monetary policy squeezing affordability from both ends, cooling demand while keeping mortgage rates elevated and supply constrained.
Shifting to energy markets, crude oil gave back an early rally after unconfirmed reports emerged that Qatar and Pakistan may be brokering peace talks involving Iran. WTI finished down roughly half a percent, and RBOB gasoline fell more than three percent to a seven-week low. Oil traders remain acutely sensitive to any signal that Iranian supply could return to global markets, and even unverified headlines are enough to move the tape.
And in the retail pharmacy space, CVS is actively targeting displaced customers following the closure of roughly one thousand Walgreens and Rite Aid locations. The consolidation across the sector is accelerating, and CVS sees a clear opening to absorb foot traffic and prescription volume from communities that have suddenly lost their local option. It is a significant structural shift in how Americans access everyday healthcare.
That's the tape. Markets Desk, signing off the floor.
