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The Bull Lives to Fight Another Day

By

Today's financial recap and tomorrow's financial outlook.

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The S&P 500 (INDEXSP:.INX) finished the day up 0.3% thanks to a rally in the last hour of trading.

The US producer price index came in better than expected, rising 0.8% month over month versus the 0.5% consensus. The US University of Michigan Consumer Sentiment Index was 83.9, falling short of estimates and June's final reading.

JPMorgan (NYSE:JPM) and Wells Fargo (NYSE:WFC) both topped analysts' earnings estimates for the second quarter, driving outperformance in financial stocks.

Shares of The Boeing Company (NYSE:BA) tanked as much as 7% after news that one of its Dreamliner 787 planes, which have suffered from technical problems in the past, caught on fire at London's Heathrow airport

Italian CPI was released this morning and was in-line with expectations. European Union industrial production fell short of estimates. The FTSE 100 (INDEXFTSE:UKX) finished the day up 0.04%.

Over in Treasuries, the 10-year yield rose by 3 bps to 2.6%. Gold opened down, but rallied in late day trading to finish flat. Crude pushed 1% higher on the day, extending its recent rally to close at $106 per barrel.

Tomorrow's Financial Outlook
Chinese GDP, industrial production, and retail sales will be released Sunday night.

US retail sales and Empire State Manufacturing data will be released at 8:30 a.m. EDT on Monday morning. US business inventories will be released at 10:00 a.m. EDT.

Cintas Corporation (NASDAQ:CTAS), Citigroup (NYSE:C), Healthcare Services Group (NASDAQ:HCSG) and JB Hunt Transport Services (NASDAQ:JBHT) will be releasing earnings on Monday.

Twitter: @Minyanville

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No positions in stocks mentioned.

The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

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