Meanwhile, the International Monetary Fund cut its global economic growth forecast by 0.1%, taking the total down to 3.5%.
In corporate news, Citigroup (C) edged up after reporting better than expected earnings. Retail sales fell for the third straight month in June, the Commerce Department reported, bucking economists’ projections for a slight increase and marking the first three-month streak of declines since 2008.
European markets were mixed, with the Stoxx Europe 600 up 0.2% and Spain’s IBEX-35 index down 2% as investors continued to worry about the euro zone’s ability to rescue troubled sovereign nations if the need arises.