The major averages enter the final hour mixed on little real news. Since Monday the Standard and Poors 500 Index is up 8 points or ¼% while the NASDAQ has lost 55 points or .7%.
Regional employment data shows that the Pacific region led employment growth in June with a .3% advance. On a year ago basis the Pacific region is in 3rd place up 2.1%, trailing the Mountain plus 2.7% and West South Central up 2.6%.
Internet or Ecommerce Sales continued their inexorable march higher in the second quarter advancing 3.9% to 127.3 billion Dollars. On a year ago basis sales have gained a respectable 15.2%.
Nothing says success like record debt levels. The New York Fed released its 2nd quarter Household Debt Survey the other day. Highlights, or low lights if you preferer, include a 16th straight quarter of increasing debt on a .6% or 82 billion increase to 13.29 trillion Dollars. Of the 82 billion advance 56 billion was mortgage related. Credit card debt grew by 14 billion, auto loans added 9 billion, the rest was an assortment. Delinquency rates continue to slip despite negative real wage growth and rising interest rates falling to 4.5% in the 2nd Quarter.
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