Consumer credit expanded at the slowest pace in eight months in June, according to a Federal Reserve report released today.
European markets edged mostly higher, with the Stoxx Europe 600 up 0.7%, as investors shook off weak data and a plunge in the shares of U.K. lender Standard Chartered. Asian markets were broadly higher, with Japan’s Nikkei Stock Average advancing 0.9%, after the Bank of Japan extended measures encouraging companies to buy foreign assets in order to curb yen strength.
Crude-oil futures added 1.6% to settle at $93.67 a barrel, while gold futures eased 0.2% to $1,609.70 an ounce. The U.S. dollar fell against the euro but gained ground versus the yen.
In the corporate areas, Chesapeake Energy (CHK) raged up 9.50% today after the natural gas producer announced higher than expected revenue and asset sales. Johnson & Jonhson (JNJ) slipped along with Pfizer (PFE) after the drugmakers reported that they were discontinuing development of an Alzheimer’s treatment plan. Finally, Knight Capital Group (KCG) fell 0.65% again today, adding to the losses experienced last week with their high frequency trading error.