U.S. Spring Home Selling Season Is Off to a Rough Start

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• 00:02

  The U.S. Blockade of the Strait of Hormuz goes into effect, sending global oil markets spinning once again.

• 00:09

  Plus, the spring home selling season is off to a rough start.

• 00:13

  Given that the March numbers were n't very good,

• 00:16

  it 's really not a good sign for what we can expect in April and even into May.

• 00:21

  So this is a pretty bad sign for the rest of the year because spring is such an important time in the housing market.

• 00:27

  And Goldman reports a record quarter in banking and trading, but investors are worried about the future.

• 00:33

  It's Monday, April 13th.

• 00:35

  I'm Alex Oseleff for The Wall Street Journal.

• 00:38

  This is the PM edition of What's News, the top headlines and business stories that move the world today.

• 00:49

  As mentioned on this morning's show, President Trump said the U.S.

• 00:52

  Would blockade the Strait of Hormuz after diplomatic talks with Iran fell apart over the weekend.

• 00:57

  Well, this U.S. Effort to stop traffic getting to and from Iranian ports is now in effect as of this morning,

• 01:03

  as the president told reporters at the White House today.

• 01:11

  WSJ senior video and national security correspondent Shelby Holliday is here to tell us how the U.S.

• 01:16

  Is enforcing the blockade.

• 01:18

  Okay, Shelby, how does this blockade actually work?

• 01:21

  The idea, according to a release by US Central Command,

• 01:24

  is that the US is going to stop any ships that are going to or from Iranian ports.

• 01:30

  So this is not necessarily about the Strait of Hormuz.

• 01:33

  This is about causing economic pain to Iran and preventing Iran from trading with the rest of the world on the water.

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