(INDEXSP:.INX) closed down 0.2% today, trading within a tight
band of 1691 and 1699.
The FHFA home price index saw month-over-month growth of 0.7% in
May versus the 0.8% consensus. Last month's change was revised
down from 0.7% to 0.5%. The Richmond regional manufacturing index
dropped to a reading of -11 versus the 8 consensus on a dramatic
slowdown in business activity.
The 10-year yield climbed 2 bps to 2.51%. Gold closed 0.7%
higher on the day at $1,345 per ounce. Crude oil opened down, but
climbed throughout the day to finish at $107.26 per barrel.
) reported earnings that topped analysts' estimates yesterday
after the market close, but recorded subscriber growth that was
less than anticipated. Shares traded down 5% on the day. The
United Parcel Service
) recorded second-quarter profit that declined 4% from last year,
although the company had already pre-released earnings on July
12. UPS also lowered guidance for the year, citing weak economic
trends in the second half of the year. Shares traded around the
flatline for most of the day.
Hang Seng Index
(INDEXHANGSENG:HSI) climbed 2.33% following Premier Li Keqiang's
statement that the bottom line for Chinese growth would be 7%.
(INDEXFTSE:UKX) declined 0.39%.
) reported better-than-expected earnings after the close, driving
the stock higher in extended trading, a big relief to
long-suffering bulls on the stock.
Tomorrow's Financial Outlook
The PMI manufacturing index flash will be released at 8:58
a.m. EDT tomorrow morning. The index is expected to record a
reading of 52.8 after seeing 52.2 last month. New home sales will
be released at 10:00 a.m. EDT. Sales are expected to come in at
481K. The EIA petroleum status report will be released at10:30
a.m. EDT .
(V) are a few of the major companies releasing earningstomorrow