Morning Bid: US housing rebound, China prime cuts

A look at the day ahead in U.S. and global markets from Mike Dolan Wall St looks set to return from the ‘Juneteenth’ holiday in a slightly more cautious mood as hawkish European policymakers contrast with another interest rate cut in China and as U.S. housing dominates the data slate. Both the S&P500 (.SPX) and Nasdaq (.IXIC) hit new 14-month highs on Friday before a late retreat and futures continued the consolidation on Tuesday, marginally in red along with overseas bourses. The main macroeconomic news overnight was a rather underwhelming Chinese rate cut that seemed to disappoint the local stock…