Wall Street ended lackluster after the Fed held interest rates steady at 4.25'4.50%, aiming to support employment and 2% inflation. Despite economic fluctuations, the Fed still projects two rate cuts by end-2025, lowering rates to 3.75'4.0%. Early market gains came amid concerns over escalating tensions between Israel and Iran. Meanwhile, Trump claimed Iran seeks negotiations, even suggesting talks at the White House.

Labor department released a report showing first-time claims for U.S. unemployment benefits edged modestly lower in the week ended June 14th. The report said initial jobless claims dipped to 245,000, a decrease of 5,000 from the previous week's revised level of 250,000. Meanwhile, it also said the less volatile four-week moving average crept up to 245,500, an increase of 4,750 from the previous week's revised average of 240,750. With the uptick, the four-week moving average reached its highest level since hitting 246,000 in the week ended August 19, 2023.

The Commerce Department too published a report showing a steep drop by new residential construction in the U.S. in the month of May. Banking stocks turned in some of the market's best performances on the day, with the KBW Bank Index climbing by 1.9%. Telecom and brokerage stocks moved upwards while energy stocks moved to the downside along with the price of crude oil.

Asia-Pacific stocks turned in a mixed performance. Japan's Nikkei 225 Index advanced by 0.9%, while Hong Kong's Hang Seng Index slumped by 1.1%. The major European markets also ended the day mixed while the U.K.'s FTSE 100 Index inched up by 0.1%, the French CAC 40 Index fell by 0.4% and the German DAX Index decreased by 0.5%.

In the bond market, treasuries closed little changed following the rebound seen in the previous session. Subsequently, the yield on the benchmark ten-tear note which moves opposite of its price, crept up by less than a basis point to 4.39%.

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