Equity markets are mixed heading into the last trading day of the week. US index futures are up 0.2%-0.3%, the Dax and FTSE and Hang Seng are flat, while the Nikkei fell 1.0%. WTI crude oi is up 0.3%, gold is down 0.3% and copper is steady.
Economic news has been positive this morning. Canada housing starts beat expectations for June (282K vs street 270K) and May housing starts were revised upward to 286K from 275K, a positive sign as the Canadian economy reopens.
US retail sales bounced back strongly in June for both the headline (0.6% vs street -0.4% and previous -1.7%) and excluding autos (1.3% vs street 0.4% and previous -0.9%) measures.
It’s a quiet day for earnings reports and corporate news, but results ramp up again next week. It is the last day for trading in monthly options, so we could see selected volatility and positioning in some markets.