US

S&P500  +1.25% (3,224.73);   NASDAQ  -1.08% (10,503.19);   DJIA  +2.29% (26,671.95)

 

This week’s reports:

  • July’s Michigan Consumer Sentiment Index (prelim.) fell to 73.2 from June’s 78.1. The index was expected to increase to 79. Consumer sentiment retreated due to the widespread resurgence of the coronavirus.
  • June’s CPI rose 0.6% m/m from May’s -0.1% m/m. Year-on-year, prices rose 0.6% versus May’s +0.1% y/y. CPI ex Food & Energy rose 1.2% y/y, the same as in May.
  • June’s Retail Sales rose 7.5%, more than the expected 5% increase, from May’s +18.2%. Retail Sales ex Autos rose 7.3% from May’s +12.1%.
  • July’s NAHB Housing Market Index rose to 72 (versus the expected 60) from June’s 58.
  • June’s Housing Starts jumped 17.3% from May’s +8.2%. Building Permits increased 2.1% from May’s +14.1%.
  • June’s NFIB Small Business Optimism Index rose to 100.6 from May’s 94.4.
  • July’s NY Empire State Manufacturing Index surged to 17.2 from June’s reading of -0.2. It was expected to rise to 10.
  • June’s Industrial Production jumped 5.4%, more than the expected rise of 4.3%, from May’s 1.4% increase. Capacity Utilization rose to 68.6% from May’s 65.1%.
  • July’s Philadelphia Fed Manufacturing Index fell to 24.1 from June’s 27.5.
  • May’s Business Inventories fell 2.3% from April’s -1.4%.       
  • Initial Jobless Claims for the week ending July 11th fell by 10K to 1.3M. New claims were expected to decrease to 1.25M. Continuing Jobless Claims for the week ending June 4th fell by 422K to 17.338M, versus the expectations of 17.6M continuing claims.