US Markets Review -17July2015

US markets opened on a positive note as the week began amid news that Greece and its international creditors have reached an agreement on a new bailout for the debt-laden country. The US markets maintained strength despite the retail sales falling by 0.3% in June versus expectations of a 0.3% increase. On the US economy front, the Producer price index rose by 0.4% in June following a 0.5% increase in May and expectations of a 0.3% increase. The Industrial production increased by 0.3% in June after edging falling 0.2% in May. The markets ended the week on a positive note owing to the news that the Greek parliament voted to approve the tough austerity measures. Upbeat earnings news from some influential companies also aided the investor sentiment. The initial jobless claims fell to 281,000 versus expectations of a level of 285,000. Nasdaq hit a new high on the back of stellar upmove by Google during this week.

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