(INDEXSP:.INX) finished the day up 0.20%. The Chicago Fed national
activity index came in worse than expected this morning. The index
recorded a reading of -0.13 versus the 0.03 consensus. Existing
home sales also fell short of analyst estimates. June sales fell
1.2% month over month to a 5.08 million annualized rate, less than
the estimated 5.26 million. Homebuilder stocks were relatively
weaker following the worse-than-estimated housing report. The
Financial Select Sector SPDR
(NYSEARCA:XLF) continued to show relative strength, finishing up
Over the weekend in Japan, Prime Minister Shinzo Abe's ruling
Liberal Democratic Party and coalition New Komeito Party took 135
of the 242 total seats in the Diet's upper house. This cements
Abe's control over the Japanese Diet and should allow any new
government legislation to pass with ease. Japanese stocks were
higher at the open, but sold off to finish just in positive
territory for the session.
The 10-year yield was flat on the day, closing at 2.49%. Gold
rallied 3.14% to $1,333 per ounce. Silver jumped nearly 5% during
today's trading. Crude oil fell 1.25% to $106.71 per barrel.
) released disappointing results before the market opened this
morning, citing a weaker consumer outlook for the rest of the year.
Shares traded 2.5% lower on the day.
) released earnings following the market close of $0.49 per-share
vs $0.40 consensus estimates and revenues of $1.07 billion vs $1.07
billion estimates. Net subscriber additions totaled 630,000 for the
quarter, below the 700,000 estimate and EPS guidance of $0.30-$0.56
vs $0.43 estimates.
Tomorrow's Financial Outlook
The Redbook index of same store sales will be released at 8:55 a.m.
EDT tomorrow morning. The FHFA house price index will be released
at 9:00 a.m. EDT. The consensus is to see growth of 0.8% month over
month. The Richmond regional manufacturing survey will be released
at 10:00 a.m. EDT and is expected to record a reading of 8.
In global releases, the eurozone will release figures for June
consumer confidence and Canada will release retail sales from June.
(LMT) will be releasing earnings tomorrow.