Asian shares jumped overnight with the Japanese Nikkei 225 (INDEXNIKKEI:NI225) leading the way, up 3.51% on the back of strong economic data. Industrial production rose 2.0% versus the expected rise of 0.2%.
Major European indices all finished in the red after a late day sell-off. The FTSE 100 (INDEXFTSE:UKX) finished the day down 0.45%.
US markets were flat for most of the day, but the S&P 500 (INDEXSP:.INX) fell sharply in the closing minutes of trading to finish down 0.43%.
That brought the S&P 500's second-quarter performance to +2.4%.
The US consumer sentiment report came in better than expected with a reading of 84.1 versus the 83.0 consensus. On the negative side, the Chicago PMI fell short of expectations at 51.6, which was much lower than the 55.0 expected by economists.
The 10-year US Treasury yield jumped 3 bps to 2.51%.
Gold opened down, but rocketed upward in early morning trading after President of China National Gold Group, Sun Zhaoxue, said that the Chinese government should buy gold to back the international currency. Gold finished the day up nearly 2%, with silver rising in concert.
BlackBerry ( BBRY ) plunged more than 25% during today's trading. The company reported worse-than-expected earnings, with earnings per share coming in at -$0.16 versus the $0.08 consensus. In addition, sales of its new BlackBerry 10 smartphones were lower than expected.
Tomorrow's Financial Outlook
There are no major earnings reports on Monday, but we'll have several economic reports to keep us busy.
The European Union HIPCP flash index will be released at 5:00 a.m. EDT.
US construction spending will be released at 10:00 a.m. EDT on Monday and is expected to come in at 0.4%.
ISM manufacturing will be released at 10:00 a.m. EDT. Following a reading of 49 last month, the consensus is at 50.5.
Next week will be a short trading week as the markets will be closed for Independence Day on July 4.
Employment numbers for June will be released next Friday, July 5.
Disclosure: Minyanville Studios, a division of Minyanville Media, has a business relationship with BlackBerry.