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Global stock markets were mixed overnight. U.S. stock indexes are pointed toward mixed openings when the New York day session beings. It’s a busy U.S. data day to end the trading week, highlighted by the retail sales report for June. Sales came in up a slightly higher-than-expected up 1.0%. Sales were forecast up 0.9% compared to the May report that was down 0.3%. Markets showed no significant reactions to the data.
In overnight news, China, the world’s second-largest economy, reported its GDP cooled sharply in the second quarter due to Covid lockdowns. China’s GDP was up just 0.4%, year-on-year. That was below market expectations and the lowest since the first quarter of 2020, when the pandemic began. The key outside markets today see Nymex crude oil prices higher and trading around $97.00 a barrel. The U.S. dollar index is weaker in early U.S. trading. The yield on the 10-year U.S. Treasury note is fetching 2.93%.
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