Quick Overview

• U.S. nonfarm productivity rose 1.1% QoQ
  

• U.S. Unit labor costs rose 2.8% QoQ
  

• The ISM index of services fell from 44.4 to 37.3 -- new record low.
  

• The Mortgage Bankers Association said U.S. mortgage applications rose 51% WoW -- helped by a 30-year fixed rate at 5.47%.
  

• Australia’s GDP rose 0.1% QoQ and 1.9% YoY
  

• Retail sales in the Euro area fell 0.8% MoM and 2.1% YoY
  

• Services for the Euro zone fell from 45.8 to 42.5
  

• The U.S. Department of Energy said:
  Supplies of crude oil fell 400,000 barrels to 320.4 million barrels.
  Supplies of gasoline fell 1.6 million barrels
  Supplies of heating oil fell 2.1 million barrels.
  Refinery use fell from 86.2% to 84.3% of capacity last week.
  Gasoline demand fell 3.2%

• More than 100 countries sign cluster bomb ban. The U.S., China, India, Israel, Pakistan and Russia are among countries refusing to sign the ban.