S&P500 -0.28% (3,215.63); NASDAQ -1.33% (10,363.18); DJIA -0.76% (26,469.89)
This week’s reports:
- June’s Chicago Fed National Activity Index (CFNAI) rose to 4.11 from May’s reading of 3.5.
- July’s Kansas Fed Manufacturing Activity Index rose to 7 from June’s reading of 2.
- July’s Markit Manufacturing PMI (prelim.) rose to 51.3 from June’s 49.8. The index rose above 50, implying growth in the US manufacturing sector. Services PMI (prelim.) rose to 49.6, much less than the expected reading of 51, from June’s 47.9. Composite PMI (prelim.) rose to 50 from June’s 47.9. All three indexes rose to their highest in six months.
- May’s FHFA Housing Price Index fell 0.3% from April’s +0.1%.
- June’s Existing Home Sales surged 20.7% from May’s -9.7%. Still, the increase was less than the economists expected (24.5%).
- June’s New Home Sales jumped 13.8%, much more than the expected 4%, from May’s +19.4%.
- Initial Jobless Claims for the week ending July 18th rose by 109K to 1.416M. New claims were expected to decrease to 1.3M. Continuing Jobless Claims for the week ending June 11th fell by 1.107M to 16.197M, versus the expectations of 17.067M continuing claims.