S&P500 +1.76% (3,185.04); NASDAQ +4.01% (10,617.44); DJIA +0.96% (26,075.30)
This week’s reports:
- May’s Consumer Credit slumped by $18.2 billion after plunging by a revised $70.2 billion in April. Economists had expected credit to decrease by $15.5 billion. Revolving credit tumbled by $24.3 billion, while non-revolving credit rose by $6.0 billion.
- July’s IBD/TIPP Economic Optimism Index fell to 44 from June’s 47.
- June’s PPI (Producer Price Index) fell 0.8% y/y, the same decline as in May. PPI ex Food & Energy rose 0.1% y/y versus May’s +0.3% y/y.
- June’s ISM Non-Manufacturing PMI jumped to 57.1, firmly in the expansion territory, from May’s 45.4.
- June’s Markit Services PMI rose to 47.9 from May’s 46.7. Composite PMI rose to 47.9 from May’s 46.8.
- May’s Wholesale Inventories fell by 1.2%, the same decrease as in April.
- Initial Jobless Claims for the week ending July 4th fell by 99K to 1.314M. Continuing Jobless Claims for the week ending June 270th fell by 698K to 18.062M.