Wall Street is gearing up for important economic updates this week, focusing on the U.S. housing market and the weekly unemployment report. On Thursday, the U.S. will release its August report on new home sales, which tracks the number of newly built homes sold and contracts signed for homes still under construction. This report differs from the monthly existing home sales report, which focuses on homes that have been previously occupied. The new home sales data helps Wall Street and economists understand the balance between housing supply and demand, giving insight into conditions for home builders and companies that supply construction materials. Economists are expecting the new home sales report to show a slight increase in August, which would contrast with the recent decline in existing home sales. However, the broader housing market is under pressure due to rising mortgage rates and home prices. Mortgage rates were already at historically high levels at the start of 2026 and have climbed further this year. This increase is partly due to the U.S. conflict with Iran, which has disrupted global oil supplies and driven up oil prices. Higher oil prices have led to increased long-term bond yields, which lenders use as a benchmark for setting home loan rates. In addition to the housing market data, the U.S. will also release its weekly unemployment claims report on Thursday. These claims, which track the number of people filing for unemployment benefits, serve as an indicator of layoffs and are closely watched by economists as a sign of where the job market is heading. Over the past year, jobless claims have remained largely stable at historically low levels, showing resilience in the broader job market. This has been notable even as inflation has placed pressure on both consumers and businesses. Despite the challenges posed by high inflation, the U.S. labor market has shown strength, with few signs of major job losses. The combination of the housing market updates and the unemployment report will provide Wall Street with key insights into the current economic landscape and help shape expectations for future market trends.