The Bull Lives to Fight Another Day
Today's financial recap and tomorrow's financial outlook.
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.
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.@Minyanville
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