Skip to Site Navigation | Skip to Content

Briefing.com is the leading Internet provider of live market analysis for U.S. Stock, U.S. Bond, and world FX market participants.

Update: 2016-06-24 15:55:12 ET

Moving the Market
  • May Durable Goods Orders: Actual -2.2%, Briefing.com consensus -0.6%, Prior 3.3% (revised to 3.4%)
    • Durable Goods Orders ex-transportation: Actual -0.3%, Briefing.com consensus 0.1%, Prior 0.5% (revised to 0.4%)
  • June Michigan Sentiment -- Final: Actual 93.5, Briefing.com consensus 94.0, Prior 94.3
    • Long-term Inflation expectations finalized at 2.6%, up from 2.3%  

6/24/2016
3:34:32 ET
10-Year:+1 18/32 1.57    GNMAs:     EUR/USD:1.1119    USD/JPY:102.28   

Treasuries Soar on 'Leave' Result to U.K. Referendum

  • U.S. Treasury yields (which move inversely to prices) fell to record lows at the 10 and 30-year maturities overnight (1.27% and 2.19%, respectively) following the news that the U.K. had voted to leave the European Union. Yields moved higher during the day session but held sharp drops for the session and equities failed to hold a massive rally after the open on Wall Street. The S&P 500 now sits down 3.82% to 2,032.6. Durable goods orders for May, which caught very little attention in the shadow of the Brexit vote and the ensuing market volatility, missed expectations and the decline in business investment led to downward revisions to Q2 U.S. GDP growth forecasts (the Atlanta Fed's GDPNow model now forecasts a 2.6% annualized rate). Michigan Sentiment was revised down for June although inflation expectations were revised up from the preliminary reading. Spain will hold a general election over the weekend to try to form a new government after December's election failed to yield a sustainable result. The projected outcome is that the Socialists will allow the People's Party (PP) to form a minority government. The U.S. Dollar Index is up 2.01% to 95.41
  • Yield Check:
    • 2-yr: -14 bps to 0.64%
    • 5-yr: -18 bps to 1.08%
    • 10-yr: -17 bps to 1.57%
    • 30-yr: -13 bps to 2.42%
  • News:
    • Durable goods orders fell by 2.2% in May, well short of the Briefing.com consensus of -0.6%. April's change was revised down to 3.3% from the initial reading of 3.4%
      • Durable goods orders excluding transportation fell 0.3% in May, missing the Briefing.com consensus of 0.1%. The prior reading was revised up to 0.5% from 0.4%
      • Orders declined in almost every category
      • Business investment continued to flag, evidenced by a 0.7% decline in new orders for nondefense capital goods excluding aircraft, which followed a 0.4% decline in April
    • The University of Michigan's Consumer Sentiment index was finalized at 93.5 for June, down from the prior estimate of 94.3. The Briefing.com consensus was for a final revision of 94.0. The index was at 94.7 in May
      • Expectations fell to 82.4 from 84.9
      • Current Conditions rose to 110.8 from 109.9
      • 12-month inflation expectations were revised up to 2.6% from 2.4%and 5-year inflation expectations were revised up to 2.6% from 2.3%
  • Commodities:
    • WTI crude: -4.99% to $47.61/bbl.
    • Gold: +4.62% to $1,321.5/troy oz.
    • Copper: -2.43% to $2.11/lb.
  • Currencies:
    • EUR/USD: -1.77% to 1.1119
    • USD/JPY: -2.42% to 102.28
  • Week Ahead:
    • Monday: May International Trade in Goods (08:30 ET)
    • Tuesday: Q1 GDP and GDP Deflator - Third Estimate (08:30ET); April Case-Shiller 20-city Index (09:00 ET); June Consumer Confidence(10:00 ET)
    • Wednesday: MBA Mortgage Index for the week ending 6/25(07:00 ET); May Personal Income and Spending (08:30 ET); May Core PCE PriceIndex (08:30 ET); Fed Chair Yellen (09:30 ET); May Pending Home Sales (10:00ET); Crude Inventories for the week ending 6/25 (10:30 ET)
    • Thursday: Initial Jobless Claims for the week ending 6/25and Continuing Jobless Claims for the week ending 6/18 (08:30 ET); June ChicagoPMI (09:45 ET); Natural Gas Inventories for the week ending 6/25 (10:30 ET);St. Louis Fed President Bullard (FOMC voter) (14:00 ET)
    • Friday: June ISM Index (10:00 ET); May Construction Spending(10:00 ET); Cleveland Fed President Mester (FOMC voter) (11:00 ET); June Autoand Truck Sales (14:00 ET)

 
6/24/2016
2:52:59 ET
10-Year:+1 17/32 1.57    GNMAs:     EUR/USD:1.1125    USD/JPY:102.19   

Brexit Sends Cable Tumbling, Dollar and Yen Higher

  • The U.S. Dollar Index jumped 2.02% to 95.41 today as the U.K.'s departure from the European Union triggered sharp declines in European currencies as well as those of commodity producers. The British pound sterling briefly fell to a 30-year low against the U.S. dollar but now trades within its post-crisis range
  • EUR/USD: -1.70% to 1.1125
    • Germany's Ifo Business Climate Index unexpectedly climbed to 108.7 in June from 107.8 in May
      • Business Expectations jumped to 103.1 in June from 101.7 in May
      • The Current Assessment also unexpectedly rose to 114.5 from 114.2
  • GBP/USD: -6.01% to 1.3677
    • In the U.K., the British Bankers' Association reported that mortgage approvals rose to 42.2K in May from 40.0K in April. The U.K.'s housing market may come under severe pressure following the country's vote to leave the European Union
  • USD/CHF: +1.22% to 0.9735   
  • USD/JPY: -2.48% to 102.19 (highest since late-2013)
  • USD/CNY: +0.69% to 6.623
  • All commodities except for precious metals and sugar are lower, so the commodity-producing countries saw their currencies drop albeit less than the European ones. WTI crude is down 5.07% to $47.57/bbl. and gold is up 4.62% to $1,321.4/troy oz.:
    • USD/CAD: +0.92% to 1.2958
    • AUD/USD: -0.51% to 0.7500
    • NZD/USD: -0.73% to 0.7147

 
6/24/2016
2:04:54 ET
10-Year:+1 15/32 1.58    GNMAs:     EUR/USD:1.1155    USD/JPY:102.24   

Risk Assessment

  • The financial shock from the Brexit vote could not come at a worse time for the U.S. economy as economists had hoped for a rebound in the second quarter from sluggish Q1 GDP growth. Housing softened a bit in the U.S. in May -- new home sales missed estimates (551K vs. 560K) and the April number was revised down to 586K from 619K. The weakness there and in durable goods orders data out this morning caused the Atlanta Fed's GDPNow model to revise it Q2 U.S. GDP growth forecast down to just 2.6%. There are risks in China too, the possibility of another decline in oil prices, and it seems that we can come up with risks everywhere we look
  • It would very easy to let one's imagination run wild and think about the potential political risks to the euro that Thursday's vote will exacerbate. Whether it is right to do so is not clear to us. The media talks a lot about gloom and doom but the positioning in the market doesn't look prepared for another round of de-risking. On Thursday, the S&P 500 traded within 10 points of an all-time high (2,127.6, after-hours, futures-implied index price) and looked set to run higher for at least a couple of hundred points. Weak shorts should be out of the market and weak shorts are fuel for the bull. Of course, equities in other developed countries are down sharply from their post-crisis highs (Nikkei 225: -27%, Euro Stoxx 50: -25%) so it would quite wrong to say that stock investors are complacent
  • The 10-year German Bund yield is down 14 bps today to -0.05% and the Continent looks to be going the way of Japan. Without a fiscal policy response, structural reforms, or sharp depreciation in the euro, it's hard to see how the euro area grows out of this in the next couple of years (which is why its stocks are discounted by 25%)
  • Corporate bond markets have become very illiquid in the aftermath of the U.K.'s vote to leave the European Union. Greater economic risks imply wider spreads over government bonds but those government bond yields are sharply lower today
  • Yield Check:
    • 2-yr: -15 bps to 0.63%
    • 5-yr: -16 bps to 1.09%
    • 10-yr: -16 bps to 1.58%
    • 30-yr: -13 bps to 2.43%

 
6/24/2016
12:46:32 ET
10-Year:+1 21/32 1.56    GNMAs:     EUR/USD:1.1145    USD/JPY:102.22   

Stocks Slip Back Towards Opening Levels, Spanish Election in Sights

  • The U.S. Treasury market is still sitting on very large gains today as global market try to adapt themselves to the reality that the U.K. will leave the European Union. The belly of the yield curve is performing the best and the 5-year yield is down 19 basis points. The focus of fixed-income markets will now turn to the Spanish general election on Sunday. A joint slate of candidates produced by anti-austerity Podemos and other left-wing parties -- United We Can -- has passed the Socialists (which is not quite a left-wing party in Spain) in the polls but the center-right People's Party (PP) remains in the lead. Ciudadanos, a centrist party, trails all three of the aforementioned parties
  • The June employment report is two weeks away and is rapidly dwindling in significance as traders forget about the idea of a rate hike in July and start thinking about rate cuts instead
  • The S&P 500 is trading down 3.07% to 2,048.4
  • WTI crude is down 4.81% to $47.70/bbl.
  • Gold is up 4.54% to $1,320.4/troy oz.
  • The U.S. Dollar Index is up 1.87% to 95.27. As we mentioned earlier, a stronger dollar is a key mechanism in transmitting economic weakness from Europe to the United States
  • Yield Check:
    • 2-yr: -14 bps to 0.64%
    • 5-yr: -18 bps to 1.08%
    • 10-yr: -18 bps to 1.56%
    • 30-yr: -15 bps to 2.41%

 
6/24/2016
11:49:17 ET
10-Year:+1 18/32 1.57    GNMAs:     EUR/USD:1.1117    USD/JPY:102.26   

Pound Plunges as Brits Vote 'Leave'

  • The U.K. voted on Thursday to leave the European Union, a process that will take up to two years to complete under article 50 of the EU treaties. That result sent cable (GBP/USD) down to a 30-year low and its current 6.27% decline is the fourth-largest decline for a major currency since 1971 (it had been second-worst earlier in the session). The only two majors that are up on the session are the U.S. dollar (the Dollar Index is up 1.89% to 95.30) and the Japanese yen. The euro sold off sharply in sympathy with the pound and commodity currencies (kiwi, Aussie, and loonie) fell sharply as well as investors ditched all risky assets
  • GBP/USD: -6.27% to 1.3633
  • EUR/USD: -1.77% to 1.1117
  • USD/JPY: -2.42% to 102.26
    • The yen soared to its highest level against the U.S. dollar since late-2014 last night as investors sought safe-havens as the 'leave' result to the Brexit referendum became clear. The yen rally has Nikkei 225 futures now down 7.23% to 15,390

 
6/24/2016
11:19:36 ET
10-Year:+1 19/32 1.57    GNMAs:     EUR/USD:1.1104    USD/JPY:102.26   

Risk Assets Steady, FTSE up on Week

  • Treasuries are still on pace for some of their best gains in years today but a steady bout of risk buying since the open on Wall Street has pushed them back sharply from highs. The S&P 500 now stands down 2.65 to 2,057.4 but that is up from an overnight futures-implied low of 2,007.1. The U.S. Dollar Index is up "just" 2.05% to 95.44 after trading as high as 96.70 overnight. WTI crude is down 4.31 to $47.94/bbl. as oil traders fret about a hit to the real economy from the financial turmoil
  • Former Fed Chair Alan Greenspan is warning of Greece's departure from the eurozone and saying that Brexit is just the "tip of the iceberg." He is also the man who believed that bank investors would adequately monitor risk-taking behavior ahead of the sub-prime crisis, so take that for what it's worth
  • Yield Check:
    • 2-yr: -13 bps to 0.65%
    • 5-yr: -18 bps to 1.08%
    • 10-yr: -17 bps to 1.57%
    • 30-yr: -13 bps to 2.42%

 
6/24/2016
10:22:07 ET
10-Year:+1 17/32 1.57    GNMAs:     EUR/USD:1.1099    USD/JPY:102.48   

Inflation Expectations Get Revised Up

  • U.S. Treasuries are bleeding away some gains after consumer sentiment data for June was revised down by more than expected. The S&P 500 has come surging back to stand just 2.09% lower at 2,069.6 and WTI crude is down 3.77% to $48.21/bbl. The U.S. Dollar Index is up 2.01% to 95.41 and gold is up 4.19% to $1,316.2/troy oz.
  • The University of Michigan's Consumer Sentiment index was finalized at 93.5 for June, down from the prior estimate of 94.3. The Briefing.com consensus was for a final revision of 94.0. The index was at 94.7 in May
    • The expectations index fell to 82.4 from 84.9
    • Current conditions rose to 110.8 from 109.9
    • Inflation expectations were finalized at 2.6%, up from a worrisome prior estimate of 2.3%
  • The Atlanta Fed's GDPNow forecast for U.S. Q2 GDP growth is down to 2.6% from last week's estimate of 2.8%. The decline was driven by the weak New Home Sales report for May (out on Thursday) which pushed the real residential investment growth forecast down from 3.6% to 1.7%. The weak durable goods orders data out this morning lowered the inventory investment growth estimate from -0.41% to -0.53%
  • Polling data ahead of this weekend's general election in Spain show the Popular Party (PP) with 28%, the Podemos-led left-wing coalition at 24%, the Socialists at 22%, and Ciudadanos at 15%
  • Yield Check:
    • 2-yr: -15 bps to 0.63%
    • 5-yr: -19 bps to 1.07%
    • 10-yr: -17 bps to 1.57%
    • 30-yr: -13 bps to 2.43%

 
6/24/2016
9:54:56 ET
10-Year:+1 19/32 1.57    GNMAs:     EUR/USD:1.1090    USD/JPY:102.36   

Michigan Sentiment on Deck

  • U.S. Treasuries are still sharply higher ahead of the Michigan Sentiment report. U.S. stocks went straight up off of the open on Wall Street and the S&P 500 now sits in last Thursday's range. The FTSE is now up on the week at 6,249. WTI crude is down 4.07% to $48.08/bbl. and the U.S. Dollar Index is up 2.09% to 95.49. Gold is up 4.58% to $1,320.8/troy oz. So far, the risk on move has not dented Treasuries very much although they remain well off of their overnight highs. Again, rate cuts are now seen as more likely than rate hikes out to February 2017. 
  • Yield Check:
    • 2-yr: -16 bps to 0.63%
    • 5-yr: -20 bps to 1.06%
    • 10-yr: -18 bps to 1.56%
    • 30-yr: -12 bps to 2.43%
  • 5-Year Yield (Daily):

  • 30-Year Yield (Daily):

 
6/24/2016
9:25:54 ET
10-Year:+1 26/32 1.54    GNMAs:     EUR/USD:1.1057    USD/JPY:102.20   

Stocks Set to Open Down 3-4%

  • The Brexit vote has sent investors to predicting the next rate cut rather than the next rate hike. Fed fund futures markets now show a 10-15% probability of a rate cut at the July meeting and the probability for a cut is higher than that of a hike for every meeting through February 2017. Treasury yields remain sharply lower today by 15 to 20 basis points at the 2 to 30-year maturities. The S&P 500 is set to open at 2,036.9, down from Thursday's close of 2,113.3. The U.S. Dollar Index is up 2.41% to 95.78, an unwelcome development for the U.S.'s economic recovery. The Michigan Sentiment number is due out at 10:00 but given that consumer sentiment will change significantly after the Brexit headlines wash over everybody, today's number should be meaningless
  • For a graphical representation of the overnight change in fed funds rate expectations, Bloomberg has a chart
  • Yield Check:
    • 2-yr: -16 bps to 0.63%
    • 5-yr: -21 bps to 1.05%
    • 10-yr: -20 bps to 1.54%
    • 30-yr: -15 bps to 2.41%
  • More on durable goods data:
    • The advance report on durable goods orders for May was a real disappointment. New orders declined 2.2% month-over-month (Briefing.com consensus -0.6%) while orders excluding transportation declined 0.3% (Briefing.com consensus +0.1%)
    • Orders declined in almost every category
    • Business investment continued to flag, evidenced by a 0.7% decline in new orders for nondefense capital goods excluding aircraft, which followed a 0.4% decline in April
    • Shipments of nondefense capital goods excluding aircraft, which factor into the GDP report, were down 0.5%, reversing most of a 0.6% increase in April
    • On a year-over-year basis, new orders excluding transportation are down 0.5% while orders for nondefense capital goods excluding aircraft are down 3.5%
    • The decline in May featured a 34.1% drop in orders for defense aircraft and parts. Overall, though, new orders for transportation equipment declined 5.6%, led by a 2.8% drop in orders for motor vehicles and parts.
    • Some other prominent order declines were seen in primary metals (-1.4% after a 0.7% decline in April), fabricated metal products (-0.3% after a 3.6% increase in April), machinery (-0.2% after a 2.0% decline in April), and electrical equipment, appliances, and components (-0.1% after a 0.2% decline in April)

 
6/24/2016
8:49:49 ET
10-Year:+1 28/32 1.54    GNMAs:     EUR/USD:1.1066    USD/JPY:102.34   

Durable Goods Orders Dwarfed by Brexit Fallout

  • Durable goods orders fell by 2.2% in May, well short of the Briefing.com consensus of -0.6%. April's change was revised down to 3.3% from the initial reading of 3.4%
    • Durable goods orders excluding transportation fell 0.3% in May, missing the Briefing.com consensus of 0.1%. The prior reading was revised up to 0.5% from 0.4%
  • Treasuries are trading near their morning lows at the moment but remain very sharply higher on the session as investors try to assess the damage from the U.K.'s vote to leave the European Union. The S&P 500 is perking up a bit but still set to open at 2,043.9, a multi-week low. The U.S. Dollar Index is up 2.28% to 95.67 as weakness in Europe is transmitted to the United States via FX rates. The stronger U.S. dollar, if it persists, will tap the brakes on U.S. economic growth. WTI crude is down 4.51% to $47.85/bbl. and gold is up 5.12% to $1,327.9/troy oz.
  • Yield Check (yes, these numbers are correct):
    • 2-yr: -17 bps to 0.61%
    • 5-yr: -23 bps to 1.03%
    • 10-yr: -20 bps to 1.54%
    • 30-yr: -16 bps to 2.40%

 
6/24/2016
8:25:33 ET
10-Year:+1 27/32 1.54    GNMAs:     EUR/USD:1.1073    USD/JPY:102.58   

Gilt Yields Plunge to Record Lows, Core/Periphery Spreads Widen Sharply

  • The U.K. voted to leave the European Union on Thursday, dealing a sharp rebuttal to oddsmakers and financial markets that had been rather complacent about the referendum as recently as Thursday afternoon. The yield on the U.K.'s 10-year Gilt fell to an all-time low of 1.00% overnight and now stands at 1.05%. The German 10-year Bund yield fell as low as -0.17% overnight, also a new all-time low. Eurozone core/periphery yield spreads are blowing out this morning as the Spain's 10-yr ODE yield jumps by 33 bps to the German Bund. The Spanish general election will take place over the weekend
  • While Germany's Ifo data beat expectations overnight, all of the economic data pre-Brexit vote will likely be seen as stale by investors, who are now going to focus on any second-round effects to Europe's real economy from this financial shock. The global economic recovery was already fragile and did not need this added uncertainty. On the other hand, the European Central Bank will not be objecting to the euro's 2.16% decline to $1.1071 today. There is also potential for finance jobs to move from London to Frankfurt or Paris
  • European Economic Data:
    • Germany's Ifo Business Climate Index unexpectedly climbed to 108.7 in June from 107.8 in May
      • Business Expectations jumped to 103.1 in June from 101.7 in May
      • The Current Assessment also unexpectedly rose to 114.5 from 114.2
    • In the U.K., the British Bankers' Association reported that mortgage approvals rose to 42.2K in May from 40.0K in April. The U.K.'s housing market may come under severe pressure following the country's vote to leave the European Union
  • Yield Check:
    • France, 10-yr OAT: -11 bps to 0.34%
    • Germany, 10-yr Bund: -18 bps to -0.08%
    • Greece, 10-yr note: +85 bps to 8.51%
    • Italy, 10-yr BTP: +11 bps to 1.46%
    • Portugal, 10-yr PGB: +26 bps to 3.34%
    • Spain, 10-yr ODE: +15 bps to 1.62%
    • U.K., 10-yr Gilt: -30 bps to 1.07%

 
6/24/2016
7:38:36 ET
10-Year:+1 28/32 1.54    GNMAs:     EUR/USD:1.1046    USD/JPY:102.56   

U.K. Votes to Leave, Treasuries Soar

  • The U.K. voted on Thursday to leave the European Union in a nationwide referendum (51.9% to 48.1%), sending U.S. Treasuries and other high-quality sovereign debt rocketing higher and slamming global equities. All major currencies that are not the U.S. dollar or Japanese yen are sharply lower as are oil prices. Gold is up 4.59% to $1,321.1. The S&P 500 is set to open down 3.71% to 2,034.8. The U.K.'s 10-year Gilt yield fell to 1.00%, a record low, and has since bounced to 1.06%. The U.K.'s actual departure from the European Union will be via article 50 of the EU treaties and could take up to two years. Prime Minister David Cameron said that he will step down although he will remain for a few more months to "steady the ship." Scotland's first minister, Nicola Sturgeon, said that there could be another independence referendum there. Scottish voters had opted to remain in the EU by more than 640K votes
  • Treasury yields set all-time lows at the 10 and 30-year maturities (1.27% and 2.19%, respectively), but have since rebounded sharply
  • Yield Check:
    • 2-yr: -18 bps to 0.60%
    • 5-yr: -25 bps to 1.01%
    • 10-yr: -21 bps to 1.53%
    • 30-yr: -15 bps to 2.40%
  • News:
    • Germany's Ifo Business Climate Index unexpectedly climbed to 108.7 in June from 107.8 in May
      • Business Expectations jumped to 103.1 in June from 101.7 in May
      • The Current Assessment also unexpectedly rose to 114.5 from 114.2
    • In the U.K., the British Bankers' Association reported that mortgage approvals rose to 42.2K in May from 40.0K in April. The U.K.'s housing market may come under severe pressure following the country's vote to leave the European Union
  • Data out Today:
    • MayDurable Goods Orders and Durable Goods Orders ex-transportation (08:30 ET)
    • June Michigan Sentiment - Final (10:00 ET)    

 
6/23/2016
3:18:27 ET
10-Year:-15/32 1.74    GNMAs:     EUR/USD:1.1352    USD/JPY:105.76   

Treasuries Drop on Anticipation of 'Remain' Vote in U.K.

  • U.S. Treasuries sold off today as markets continued to anticipate a 'remain' result to the U.K.'s referendum on its membership in the European Union. Safe-haven assets like Treasuries, German Bunds, and the Japanese yen took significant losses while risky asset like equities rallied sharply. U.S. new home sales fell more than expected in May but the housing market remains relatively healthy and continues to recover. Initial jobless claims also beat estimates and remain near historic lows, so that data series is not confirming the deterioration in the labor market that the Labor Department's monthly employment reports have been hinting at. The S&P 500 now trades up 0.96% to 2,105.4 and the U.S. Dollar Index is down 0.20% to 93.53
  • Yield Check:
    • 2-yr: +2 bps to 0.77%
    • 5-yr: +6 bps to 1.26%
    • 10-yr: +5 bps to 1.74%
    • 30-yr: +5 bps to 2.56%
  • News:
    • New home sales in the U.S. fell to a seasonally adjusted annual rate of 551K in May from 586K in April (revised down from 619K). The Briefing.com consensus was 560K
      • The downturn in May featured a 33.3% decline in sales in the Northeast, although every region experienced a sales drop with the exception of the Midwest (+12.9%). Notably, the South and the West -- the two biggest regions for new home sales -- saw sales decline 0.9% and 15.6%, respectively
      • The median sales price of a new home increased 1.0% year-over-year to $290,400
      • May's sales reading was up 8.7% from May 2015
      • With the slower sales pace in May, the inventory of new homes for sale jumped to a 5.3-month supply from 4.9 months in April
    • Initial jobless claims fell to 259K for the week ending 6/18. That was down from 277K in the prior week and below the Briefing.com consensus of 273K
      • Initial jobless claims have been below 300K for 68 weeks in a row, according to Bloomberg. That's the longest run since 1973 (when the U.S. workforce was much smaller)
      • Continuing jobless claims fell to 2142K for the week ending 6/11 from the prior reading of 2162K
    • Markit's U.S. manufacturing PMI rose more than expected to 51.4 for June from 50.7 in May, according to preliminary data
    • The Conference Board's Leading Economic Index fell 0.2% in May, partially reversing April's 0.6% increase. The Briefing.com consensus was for a 0.2% gain
  • Commodities:
    • WTI crude: +1.87% to $50.05/bbl.
    • Gold: -0.50% to $1,263.6/troy oz.
    • Copper: +1.01% to $2.157/lb.
  • Currencies:
    • EUR/USD: +0.15% to 1.1352
    • USD/JPY: +0.96% to 105.77
  • Data out Friday:
    • May Durable Goods Orders and Durable Goods Ordersex-transportation (08:30 ET)
    • June Michigan Sentiment - Final (10:00 ET)