Alot of data dropped:
Weekly initial jobless claims totaled 221,000 (233,000) following a total of 228,000. Continuing claims came in at 1.690 million after a revised count of 1.749 million in the prior week (from 1.754 million).
GDP rose 2.4% in the advance reading for Q2 (consensus 1.6%) following a 2.0% increase in the prior reading. The GDP Deflator rose 2.2% in the advance reading for Q2 (consensus 3.0%) from 4.1% in the prior reading.
Durable orders jumped 4.7% in June (consensus 1.0%) after a revised 2.0% increase in May (from 1.7%). Durable orders, excluding transportation, rose 0.6% in June (consensus 0.2%) following a revised 0.7% increase in May (from 0.6%).
The advance report for the international trade in goods showed a deficit of $87.8 billion in June from a deficit of $91.1 billion. The retail inventories rose 0.7% in the advance report for June following a revised 0.7% increase (from 0.8%). Wholesale inventories dropped 0.3% in the advance report for June from a revised 0.3% decline (from -0.1%).