Guest Post: Tuesday
Action around the world paints a mixed picture for equities this morning. Commodities are mixed while the dollar trades lower. Metals trade higher and energy modestly lower.
In corporate news, Coca Cola (KO) trades lower as it reports in-line earnings on below-consensus revenue. Goldman Sachs (GS) beats on earnings and revenue and Marathon Petroleum (MPC) lowers its second quarter earnings guidance below consensus. Johnson & Johnson (JNJ) beats on earnings providing some lift to the health care sector.
For US economic reports, June consumer prices rose 0.5% and June industrial production rose 0.3%.
European indices saw a lot of economic data today. To name a few, the Eurozone reported a trade surplus of EUR 14.6 billion and CPI came in at 1.6% year-over-year as expected.
Asian markets traded slightly higher in the overnight session. India fell slightly lower as the Reserve Bank of India raised its lending rates for banks and released plans to get rid of excess liquidity from the system. In Japan, economy minister Akira Amari planned to raise the sales tax.
The VIX has ticked up slightly to 14.07 and the 10 year is slightly lower at 2.54%.
Written by: Nicholas Mueller