Quick Overview

• U.S. unemployment rate remained at 5.5% in June.
  
  

• U.S. jobless claims were up 16,000 to 404,000.
  
  

• The Institute of Supply Managements' index of services fell from 51.7 to 48.2 in June,
  
  
  

• The European Central Bank increased its interest rate from 4.00% to 4.25%, as expected.
  
  

• Retail sales in the Euro area rose 1.2% in May.
  
  

• Services index in the U.K. fell from 49.8 to 47.1 in June.
  
  

• India banned all export of corn to protect domestic supplies.
  
  

• China Customs data show that during the first five months of this year, China's foreign trade value rose 26.2% over the same period last year to US$1.01 trillion. India was the fastest growing among its trading partners. Trade with India rose 70.3% to $24.2 billion, making it Chinas eighth largest trading partner.
  
  

• Forecasters generally reduced the extreme hot temperatures that had been predicted in the Midwest next week.
  
  

• A new Israeli study on rats, using red wine with red meat, has shown that red wine works against some of the harmful substances produced by red meat.