Quick Overview

• U.S. jobless claims fell 47,000 last week to 522,000.
  

• The Philadelphia Federal Reserve's regional index of manufacturing fell from -2.2 to -7.5 in July.
  

• YoY China's GDP rose 7.9% in Q2 after a 6.1% gain in the previous three months

• China June Producer Price Index fell -7.8% versus -7.2% in May

• China June Consumer Price Index fell -1.7% versus -1.4% in May

• China June Retail Sales rose 15.0% China Jun. Industrial Production rose 10.7% YoY
  

• China’s exports fell 21.4% in June -- that was an improvement over May's record 26.4% drop.
  

• Japan’s tertiary index of services fell 0.1% in May.
  

• The International Coffee Organization raised its estimate of 2008-2009 world coffee production from 126.1 to 128.8 million bags
  

• (FT) CIT said overnight there was no “appreciable likelihood” of a government bailout, leaving the company facing a bankruptcy filing unless another last-minute restructuring deal can be struck.
  

• J.P. Morgan Chase reported a 36% jump in profit.
  

• Imports at the leading container ports increased 5% MoM compared with April, but were down 20% YoY.

• (Economic Times) Jim Rogers "I do actually have a silver coin in my pocket. I also have a gold coin, but the silver one is probably my better play. If I were a bright young man, I would be buying sugar now and silver, given the state of the world. That's not a recommendation, but I am just saying I do own some silver. Silver is cheaper than many things on a historic basis and I do own some silver," Rogers said.