Markets End Up Though IraqTension, Mixed Data Cap Gains

TheStreet

U.S. markets turned green over the afternoon session, though geopolitical uncertainty and cautiousness heading into the Fedâ¿¿s two-day policy meeting capped any big gains. After oil prices rose 4% last week as tensions strained in the Middle East, investors saw temporary relief Tuesday. Crude oil futures for July dipped around 0.6% to $106.23 a barrel. In domestic markets the U.S. housing market recovery experienced a setback as housing starts fell 6.5% while building permits dropped 6.5%. Both measures fell at a rate greater than analysts expected. Meanwhile, the Consumer Price Index increased at its fastest pace in more than a year for May, up 0.4% from the prior month.