US stocks closed mostly lower on Wednesday after the Federal Reserve raised its key interest rate by a quarter of a percentage point while signaling at least one more rate hike later this year.
The Mortgage Bankers Association's mortgage applications index increased by 2.8% for the week.
U.S. retail sales recorded their biggest drop in 16 months, while consumer prices fell unexpectedly in May, raising questions about the Fed's ability to further tighten monetary policy. The hike will push interest rates above 1 percent for the first time since the immediate aftermath of the collapse of Lehman Brothers in 2008. The Fed's balance sheet now includes approximately $4.5 trillion of bonds and other assets in which it has been increasingly investing from previous quantitative easing.
The S&P 500 is up 8.58 points, or 0.4 percent.
The data also pressured the dollar index, which fell to its lowest since November 9.
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The Dow Jones Industrial Average fell nine points, or 0.04%, to 21,319, the S&P 500 lost nine points, or 0.38%, to 2,431 and the Nasdaq Composite fell 56 points, or 0.9%, to 6,165.
Facebook, Mircosoft and Alphabet, which had been hit hard by a selloff in the tech sector earlier this week, rose for the second straight day.
The Dow is up 102.59 points, or 0.5 percent.
However, Cardillo said the market seemed "unfazed" by the shooting.
The S&P 500 is up 201.52 points, or 9 percent. The S&P 600 Small-Cap Index closed at 861.15 for a loss of 4.92 points or 0.57%. On the Nasdaq, 1,345 issues fell and 979 advanced.
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