(as of 7:00 AM PST)
It is setting up to be another quiet day on US markets. Indexes are down a small amount despite positive economic data. Housing starts came in strong this morning and the news is keeping a lid on losses. The Chinese Shanghai market was down 6.2% overnight with many stocks not trading. Other global markets are ignoring the Shanghai problem with Europe mixed and the US recovering from early losses. Walmart issued an earnings warning for the year due to increased wage costs, which added downward pressure. Oil has stabilized while gold is giving back some of last weeks rally. Expect action to be quiet with many investors on vacation.
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