- Jobless claims fell sharply to 429,000 from 458,000. A seasonal adjustment factor due to a lack of seasonal auto plant shut downs may be to blame.
- Empire State manufacturing data slid to 5 in July from 19.6 in June. 18.5 was the consensus.
- Core PPI rose 0.1%
Soft growth and the PPI drop will raise the deflation specter which should keep US rates low for the foreseeable future.
