The S&P 500 Index is up +0.15%, marking a one-month high, while the Dow Jones Industrial Average is up +0.35%. In contrast, the Nasdaq 100 Index has decreased by -0.64%. Key economic reports indicate that June producer prices increased by 5.5% year-over-year (down from 6.0%), and the July Empire manufacturing survey rose to 15.6, surpassing expectations of 9.2.
US MBA mortgage applications fell by -2.7% in the week ending July 10, with a -7.3% decline in purchase applications. Additionally, the average 30-year fixed-rate mortgage increased to 6.65%. On the global front, China’s Q2 GDP rose 4.3% year-over-year, slightly below the expected 4.4%, while industrial production increased by 5.3%, beating forecasts of 4.6%.
Geopolitical tensions escalated as the US launched airstrikes on Iran amid a collapsing interim peace deal, which President Trump vowed to intensify until Iran ceases its maritime aggressions. Concurrently, PayPal Holdings surged over +17% following reports of a $53 billion acquisition offer.
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