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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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U.S. Futures Bounce Back After China Fails to Announce a Retaliation to Newest Round of Tariffs #China #Tariffs #CPI

U.S. Futures bounce back after China fails to announce a retaliation to newest round of tariffs.  After President Trump announced a proposal of $200b in additional tariffs, China has reiterated that they want to avoid a trade war and has not announced retaliatory tariffs.  In economic data, jobless claims fell to 214k last week from 231k the week prior.  On the inflation front, June CPI rose 0.1% m/m or 2.9% y/y.  Ex-food and energy CPI rose 0.2% m/m and 2.3% y/y.  European shares are higher, with most sectors trading in positive territory.  Asian shares closed higher with China markets leading the advance.

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U.S. Futures are Lower as Trade Tensions Rise #Trade #China #Tariffs

U.S. Futures are lower as trade tensions rise.  Late yesterday, President Trump identified a new list of $200b in Chinese goods that will be subject to a 10% tariff if enacted.  The proposed tariff will go through a review process that is expected to take place in August.  In economic data, the Labor Department reported that producer prices rose more than expected in June, rising 0.3% m/m and 3.4% y/y.  The new proposed tariffs have dragged down global markets.  European shares are trading lower with materials stocks leading lower.  Asian shares closed lower with Chinese markets leading lower.

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U.S. Futures are Higher as Earnings Season Begins #Earnings #SupremeCourt #Jobs

U.S. Futures are higher as earnings season begins.  Stocks are trading higher after PepsiCo kicked-off earnings season with better-than-expected results.  Last night, President Trump nominated Judge Brett Kavanaugh for the Supreme Court position to succeed Justice Anthony Kennedy.  The nomination, if confirmed, would likely move the Supreme Court to a more conservative view on regulatory and environmental issues.  Later this morning the market will get a look at job openings in May, with expectations for a new hi of 6.7m job openings.  European shares are being led higher by energy and commodity names.  Asian shares closed mostly higher led by financial stocks in Japan.  In economic data, China’s consumer prices rose 1.9% yoy, inline with expectations, while producer rose more than expected to 4.7% yoy.
 
 
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