U.S. Futures are Lower Despite Strong Data #Futures #Jobless

U.S. Futures are lower despite strong data.  The Labor Department reported that weekly jobless claims fell to 207K last week, the lowest level since 1969, as the job market continues to gain traction.  In other data, the Philadelphia Fed Business Outlook survey bounce back in July, rising to 25.7 from 19.9 in June.  European shares are mostly lower as basic material stocks lead lower.  Asian shares closed mostly lower after failing to hold on to early gains, with Chinese shares continuing to lead lower.

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U.S. Futures are Slightly Lower After Data #Futures #Housing #FOMC

U.S. Futures are slightly lower after data.  Housing starts fell 12.3% in June, more than the 2% decline that analysts were expecting.  Building permits also declined in June, falling by 2.2%, while analysts were expecting a rise for the month.  Later this morning the market will get a look at oil and gas inventories from last week.  At 2pm, the Fed will release their latest Beige Book, outlining anecdotal information on economic conditions from the 12 Fed districts.  European shares are mostly higher with technology shares outperforming.  Asian shares closed mixed as Chinese stocks were unable to hold on to gains.  Japan’s Nikkei advanced on strength in exporters, with automakers leading the advance.
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U.S. Futures are Lower as Technology Stocks Lag #Netflix #Amazon #Fed

U.S. Futures are lower as technology stocks lag.  Weaker than expected subscriber growth at Netflix and website glitches at Amazon are helping to drag down technology stocks.  Later this morning the market will get a look at industrial production from June, with expectations for a bounce from May’s decline.  At 10am, the housing market index will be released with expectations that home builder confidence will remain unchanged in July at 68.  Today will begin a two-day, semi-annual, testimony of Chairman Jerome Powell before the Senate Banking Committee.  Markets will look for cues on future monetary policy decisions.  European shares are trading mostly lower, however, material stocks are outperforming.  Asian shares closed mostly lower, with Japan’s Nikkei outperforming in the region.

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U.S. Future are Flat After Data #Retail #Manufacturing #Trade

U.S. Future are flat after data. The Commerce Department reported June retail sales rose 0.5%, matching expectations. Retail sales strength was boosted by automobile purchases and May numbers were revised higher from 0.8 to 1.3%.  In other data, the June Empire State Manufacturing survey came in higher than expected at 22.6, pointing to continued strength in manufacturing.  Later this morning, the market will get a look at business inventories from May.  European shares are trading lower as earnings season begins.  On the data front, the euro zone trade surplus fell to 16.9 billion euros in May.  Asian shares closed mostly lower after China reported Q2 GDP growth of 6.7%.  China’s GDP growth was in-line with forecast, but below the 6.8% form Q1.

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U.S. Futures are Trading Near Unchanged as Bank Earnings Take Center Stage #Futures #Banks #Earnings

U.S. Futures are trading near unchanged as bank earnings take center stage.  Before the bell today, the market will get earnings from Citigroup, First Republic Bank, PNC Financial, JP Morgan Chase and Wells Fargo.  On the data front, import and export prices rose less than expected in June.  Later this morning the market will get a preliminary look at consumer sentiment for July.  European shares are trading higher as technology stocks lead the advance.  Asian shares closed mostly higher with Japanese shares leading on strength in technology shares.  China reported that June exports rose slightly more than expected in June, while imports rose less than expected.

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