Bulls Win Big For Second Day In A Row: Here's What You Need To Know


The market has staged a late day rally, rising back to the heights of earlier today.

The Scoreboard:

  • Dow up 120.71 or 1.20%
  • S&P 500 up 9.97 or 0.94%
  • NASDAQ up 15.93 or 0.74%

And now, the top stories:

  • Consumer credit numbers have been released and they point to further deflationary pressures. Borrowing fell by $9.1 billion in May.
  • Initial jobless claims this morning came in at 454,000, a notch below the analyst predictions of 460,000. This is an improvement over last weeks 472,000.
  • European banking stress tests have come in a little weak, with 6 banks having problems which may force them to recapitalize. The tests themselves have been derided for being not strong enough. Markets loved the results, however. Check out the 6 banks >
  • Retail sales for June were largely mixed with J.C. Penney, Macy’s, and Abercrombie and Fitch notable winners.

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