The 7/19 US session provided some key economic data, all of which disappointed forecasts.
8:30AM EDT:
Jobless Claims for the week came in at 386K vs. forecast of 367K and previous reading of 352K.
10:00AM EDT:
1) Existing Home Sales for June y/y came in 4.37M vs. forecast of 4.64M, falling from May’s 4.62M reading, which was revised up from 4.55M.
2) Philly Fed Manufacturing Index in July posted -12.9 vs. forecast of -7.9, though a slight improvement from the -16.6 in June.
The S&P 500 futures have been trading up to July’s high at 1375.06, and cracked it briefly. However, risk-on trading has stalled with the disappointing US data. It is however still trading in a rising channel.
S&P500 1H Chart 10:35AM EDT
