The 7/19 US session provided some key economic data, all of which disappointed forecasts.
Jobless Claims for the week came in at 386K vs. forecast of 367K and previous reading of 352K.
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